Airport Economic Development Strategies

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Presentation transcript:

Airport Economic Development Strategies Best Practices for Attracting Jobs and Investments Georgia Airports Association Christopher D. Lloyd October 15, 2015

Classic Economic Development

Economic Development Opportunities for Airports Continued growth of global air travel All international air manufacturers want a U.S. presence Increased opportunities for suppliers MRO Aviation training (particularly for foreign allies) Research and development Changeover in major defense aviation platforms Southeast US emerging as the new center for US aviation manufacturing

What Prospects Want Pro-business real estate policies Interstate (and perhaps rail) access nearby Ability to access multiple manufacturers and suppliers Trained workforce along with continuing education opportunities Favorable tax climate Few conflicting operational issues

Improving your Economics Subsidize cost of land Invest in workforce training Site readiness and certification Reduced taxes on fuel, parts Aviation focused incentives

Aviation Incentives

Case Study – Ogden, UT Private investors build jet center Public private partnership develops space for Northrop Grumman New hanger for Borsight Allegiant flight to PHX

Honda Aircraft Company – Greensboro, NC $178 million investment GTCC training partnership 1000+ full time jobs Significant local investment

Honda Aero – Burlington, North Carolina $27 million investment Large local commitment 30 full time jobs Leveraged LabCorp

Questions or Comments? www.mcguirewoodsconsulting.com /McGuireWoodsConsulting @MWConsulting @chrislloyd_mwc © McGuireWoods Consulting LLC