Branson Airport’s local economic impact totals $454.8 million in five years
Jonas Arjes, EDFP
Executive Director, Taney County Partnership
417-337-2540 c | 417-243-2126 o
FOR IMMEDIATE RELEASE: Monday, December 12, 2017
Branson Airport’s economic impact on local economy totals $454.8 million in five years
The airport’s economic impact on the local economy totaled $454.8 million from 2010 – 2015. Since the reduction of air service at Branson in 2014, the community has been working to restore this important revenue stream.
BRANSON, MISSOURI – A November Economic Impact Study for Branson Lakes Area Chamber of Commerce and CVB, by Arizona State University, found that the Branson Airport had a cumulative 2010 – 2015 total economic impact of $454.8 million. The fiscal impacts from tax collections totaled $14.5 million. Tax collections from the air visitor by Taney County, City of Branson and the TCED totaled $6.9 million or $20.88 per Branson Airport air visitor. Employee fiscal impacts were significant as well. Employees of the airport and the air visitor sector, acting as consumers purchasing for their households, generated additional sales tax revenues of $2.5 million. Combined air visitor tax revenues and employee tax revenues in the local area summed to $9.4 million or $28.52 per air visitor. Additionally, the report found on average the airport supported 688 jobs annually in the area (this is airport employees and employees in the community supported by air visitors). In the report the economic impacts peaked in 2013, followed by declines in 2014 and 2015.
Branson Lakes Area Chamber of Commerce and CVB, Taney County Partnership and the Branson Airport have been working to restore economic impacts generated by the airport. “The key to restoring economic impact from the airport on the local economy is to grow air service,” said Jeff Bourk, Executive Director for Branson Airport. “The Taney County Partnership and the Air Service Development Committee will play a critical role in our efforts to return major air service to Branson.”
The Taney County Partnership and the Air Service Development Committee have worked with the airport to form a group of public and private sector partners investing in a fund designed to return service to key markets and enable tourist access from across the country. The air service development fund totals $1,010,000 in public sector funds from Taney County, TCED and City of Hollister. The level of private sector investment is not available, but is significant. The purpose of the fund is to back-stop start-up risk for new airlines entering the market. The community in exchange gains the economic and fiscal benefit from the air service.
In 2016, the airport was serviced by Branson AirExpress operated by Corporate Flight Management and by Great Lakes operated by Elite Airways. The airport had non-stop service to Austin, TX, New Orleans, LA, Houston, TX and Denver, CO.
Load Factors by Month (All routes):May – 72%, June – 67%, July – 57%, Aug – 53%, Sep – 51%, Oct – 54%, Nov – 67%
2017 Air Service plans are currently being discussed.