Economic Impact

Morristown Municipal Airport, NJ: 2008

R.A. Wiedemann & Associates, Inc., was retained to perform an economic impact assessment for Morristown Municipal Airport. The facility is located just 27 miles from New York City and serves corporate and business aviation. The study estimated that Morristown Municipal Airport supports over 1,150 jobs and $243.6 million in annual economic impact. The Airport generates over $13.3 million in State and local taxes and provides incomes of almost $72.3 million to New Jersey residents. The Airport’s replacement value has been estimated at $245.0 million, while its current value is estimated to be $167.1 million. Thus, a snapshot of the total value of the Airport to the community would include the annual economic output of $243.6 million plus the existing value of the airport itself of $167.1 million, which totals $410.7 million. The Airport sponsors intend to use this information to assist in their public relations programs aimed at facilitating continued operation and development of the facility. Technical reports, executive summary brochures, and press releases were generated as outputs of this study.

Log In

Create an account