A publication of the Kentucky Center for Public Service Journalism

CVG’s local economic impact grew to $4.4 billion annually, according to new report; up 22 percent

Cincinnati/Northern Kentucky International Airport (CVG) is a vital asset to the region’s economy with a $4.4 billion annual impact on local families, businesses and governments according to a report released from the economic centers at University of Cincinnati and Northern Kentucky University.

This represents a 22 percent increase compared to $3.6 billion impact from previous study in 2012.
 
More than 6.8 million passengers fly through CVG each year, having a direct impact on the local economy. Highlights from the study include:

· CVG supports more than $4.4 billion in total annual output in the Cincinnati MSA
· CVG supports more than 13,500 direct jobs and more than 31,100 total jobs
· CVG supports more than $625 million in direct labor income and more than $1.3 billion in total labor income
· CVG supports more than $21 million in income tax revenues for Kentucky and more than $4 million for Ohio

“We’re proud of what CVG means to our community. A vibrant airport that moves people and goods efficiently is an important component of the economic vitality of the region,” said Candace McGraw, CVG chief executive officer.

“This report showcases our successful efforts over the last several years to grow cargo operations, develop land around the airport, and increase air-service options. We’re pleased to see the direct positive impact on the community.”
 
Airline growth has been driving down airfares, and therefore contributing to increased passenger volume at CVG. Passengers traveling to the region have a direct effect on the local economy by spending on dining, retail, entertainment and lodging. Spending per leisure visitor is $150, while spending per business visitor is $477.  
 
For more, a summary of the report can be found at http://cvgairport.com/about

From CVG Communications

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