In The News
Chicago Executive Airport:
A Soaring Multi-Million Dollar Impact!
Prospect Heights/Wheeling, Illinois December 19, 2007 The long awaited and recently published economic impact study confirms that Chicago Executive Airport is a potent force in both the local and regional economy. According to the exhaustive study, the airport is a critically important and dynamic economic engine. In addition to having significant financial muscle, the airport provides additional benefits in the areas of medical transport, police patrol, traffic reporting, national security and other aviation related services. The study underscores Chicago Executive's powerful positive effect on the local economy and isolates the airport's significant and meritorious contribution to the health and safety of the communities of Wheeling and Prospect Heights.
The study indicates that 567 individuals work at the airport and typically live in the region. Chicago Executive Airport generates a payroll of over $33 million annually. Further, firms that regularly rely on the airport have a direct effect on the local Chicago area economy amounting to 12,600 jobs and an astounding $1.2 billion in sales.
The detailed analysis of aviation at Chicago Executive Airport indicates that the combined annual economic impacts of the airport's operation, visitors and multiplier impacts total over $330.8 million in economic activity, of which $124 million is paid in earnings to 2,426 jobs. The 73 firms and agencies located at the airport that provide aviation services and equipment generate and impressive $128.1 million in direct aviation related impacts.
The study, conducted by Wilber Smith Associates, a full-service transportation and infranstructure consulting firm with offices in 58 cities and 8 countries around the world, was undertaken to develop an unbiased, thorough quantification of the airport's impact on the facility's service region. The firm conducted an exhaustive analysis of direct, indirect and multiplier impacts.
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