Aviation accounts for 6 percent of North Carolina GDP
December 12, 2012, 05:20 pm
A recent study by the Institute for Transportation Research and Education at North Carolina State University, commissioned by the Division of Aviation, investigated the impact aviation has on North Carolina's economy.
The study, 2012 Economic Contribution of Airports in North Carolina, showed that the state's 72 publicly owned airports contribute approximately $26 billion to the state's economy and provide 108,000 jobs.
“Aviation and aerospace continue to be an integral part of North Carolina’s economic engine,” said N.C. Department of Transportation’s Division of Aviation Director Richard Walls. “As our state continues its investment in aviation, aerospace companies continue to invest in North Carolina, with new manufacturing plants and technology.”
The report showed that aviation accounts for 6 percent of North Carolina's gross domestic product. In addition, the state's airports support more than $4 billion in personal income from the aviation jobs, state and local governments received $770 million in sales, property, corporate and personal taxes because of the airports and local property tax for airport activities accounts for nearly $277 million.
General aviation plays a critical role throughout North Carolina. The state's 63 general aviation and nine commercial service airports connect the regional, national and international markets.
Aviation's impact on the US
Craig Spence, secretary general of the International Council of Aircraft Owner and Pilot Associations, said at the China Low Altitude Economy Summit on August 23 that general aviation is an "economic powerhouse" in the United States.
At the summit, Spence said there are 5,261 public use airports nationwide, 10 times the number of commercial airports. In addition, there are 19,000 landing strips. Throughout the United States there is one airport for every 7,000 people and one plane for every 1,100 people. To put that in perspective, India has one airport for every 22 million people and one plane for every million people.
Spence said that the commercial aviation system is like major highways connecting large cities, while the general aviation system "pave the back roads" to smaller communities. It provides the United States the option for quick, reliable and flexible air travel to even the most remote corners of the country.
Across the nation, general aviation's infrastructure accounts for $150 billion in annual contributions to the economy, providing millions of jobs and supporting services during times of need.
Pilots supporting the significant impact general aviation has on the United States should consider pilot life insurance to align their own financial future.
Are you covered? Are you overpaying? Find out! Get a Quote Now!
| 
