Akron-Canton Airport Reports $398.6 Million Economic Impact

Jun 30, 2010, 12:33 ET from Akron-Canton Airport

GREEN, Ohio, June 30 /PRNewswire-USNewswire/ -- Akron-Canton Airport (CAK) not only makes a big impact on travelers, we make a big impact in the community. In 2008, the airport's total economic impact in the region exceeded $398 million. That figure was determined by a recently completed economic impact report commissioned and conducted by the airport authority. In addition to the economic impact figure, the airport contributes to and helps sustain 2,244 jobs in the region, making it one of the top 25 employers in Summit County.

"Giving back is what we are most proud of at Akron-Canton Airport," said Rick McQueen, president and CEO. "We exist to serve this community with world-class facilities, exceptional customer amenities, jet flights to awesome destinations and affordable fares. In good and bad times, CAK continues to deliver exceptional value to travelers throughout the entire Northeast Ohio region. With the vision and guidance of our board of trustees, we remain committed to giving back- now and for decades to come."

In addition to jobs, the economic impact study also measured sales and excise tax contributions and income generation. Total tax revenues added up to $12 million and payroll exceeded $87 million. Ohio counties included in this study were Stark, Summit, Cuyahoga, Carroll, Portage, Medina, Trumbull, and Mahoning. Airlines, rental car agencies, restaurants, retail shops, airport tenants (inside the building and on the airfield campus), hotels and other businesses around the airport were surveyed. The airport used the generally accepted IMPLAN economic impact model to determine the various impacts. The data is based on capital expenditures and employment levels that are dependent upon or related to the airport. To see a full report of our economic impact, please go to www.akroncantonairport.com/EconomicImpact.

About Akron-Canton Airport

Akron-Canton Airport kicked off CAK 2018, its 10-year, $110-million Capital Improvement Plan in 2008. The plan is the most ambitious in the airport's 64-year history. The centerpiece of CAK 2018, the extension and safety upgrade of Runway 5/23 will be complete in November of this year. Other projects include a new aircraft firefighting and rescue building and a federal inspection facility. Also, Akron-Canton Airport was awarded Best Experience on June 8, 2010 as part of the 2010 World Class Customer Service Awards presented by Smart Business. Keep up to date on all things CAK by visiting Social CAK – our comprehensive social media portal. Additional information including flight reservations, driving instructions, and relaxation station is available at www.akroncantonairport.com. Akron-Canton Airport a better way to go®.  

SOURCE Akron-Canton Airport