PGD’s Economic Impact Surpasses $1 Billion
Florida Department of Transportation’s (FDOT) new Statewide Aviation Economic Impact Study values Punta Gorda Airport’s (PGD) total economic impact (output) at $1,275,088,000. FDOT’s profile on PGD attributes more than $100 million in on-airport impacts and nearly $573 million in visitor spending impacts. When combined with the multiplier impacts and payroll of nearly $419 million, the total economic output exceeds $1.275 billion.
“This is outstanding news and a success story that our entire community can take pride in,” said Charlotte County Airport Authority (CCAA) Board Chair Pam Seay. “On behalf of the Charlotte County Airport Authority Board, thank you to our passengers, employees, and public and private partners that who collaborated to make PGD a leading economic engine for Southwest Florida.”
PGD just concluded another record-breaking month for passenger traffic in March 2019, with a total of 221,326 Allegiant passengers. This is a 14.71 percent increase from March 2018, which was also a record-breaking month. The economic impact assessment parallels PGD’s passenger growth, which reached 1,577,164 passengers in 2018, compared with 182,423 passengers in 2010. When the FDOT study was conducted in 2010, PGD’s economic impact was estimated at $141,383,900, and $219,975,000 in 2014.
“PGD’s economic impact increase from 2010 was more than nine-fold,” said PGD CEO James W. Parish. “While our success in attracting low-cost air service is on the forefront of this strong economic valuation, it has also provided a catalyst for the region’s economic growth in industry and tourism as well.”
Beyond PGD’s strong partnership with Allegiant and airline-related revenues, the airport has continued to see growth in aviation and non-aviation business activity. Out of PGD’s 84,113 operations (takeoffs and landings) in 2018, 87 percent were primarily general aviation flights, along with air taxis and military. Nearly all of PGD’s commercial hangars onsite are leased and there is a waiting list for t-hangar rentals.
Driven by the continued growth, the CCAA plans to relocate its general aviation facilities to the north side of the airport so that commercial air service operations have room to expand from its existing footprint. Airport management recently updated its Master Plan, which outlines short-term, intermediate and long-term projects for the airfield, commercial passenger terminal, general aviation facilities and support facilities. Visit PGD's Statistics & Studies page for related reports.
