Economic impact report shows Airport created over 42,000 direct jobs, $8.4B in business activity
SAN FRANCISCO – August 14, 2017 – the San Francisco International Airport (SFO) today released an economic impact report, summarizing the contribution that the Airport makes to local economies. SFO is now in seventh year of sustained passenger traffic growth, with resulting gains in employment, income, business activity, and visitor spending. The report, which summarizes economic impact for the 2016-2017 Fiscal Year, included the following highlights:
- SFO directly accounted for more than $8.4 billion in business activity in the 2016-2017 Fiscal Year, and over 42,800 jobs. This represents a significant increase over the previous report, which covered the 2015-2016 Fiscal Year and noted $7.9 billion in business activity and 39,400 direct jobs.
- Off-site business activities that depend directly on local air service for staff movements, cargo deliveries, or visitor spending collectively raise the direct airport economic contribution to the Bay Area to $35.7 billion in business sales with approximately 165,000 jobs, up from previous figures of $34.6 billion and 158,400 jobs respectively in the last study.
- The indirect and direct spin-off activities associated with suppliers of goods and services to directly affected businesses, and the re-spending of additional worker income on consumer goods and services, raises the total regional economic impact to over $62.5 billion in business sales, including $20.9 billion in total payroll and over 300,300 jobs.
“The continued passenger growth at SFO benefits our entire region by fueling job creation and generating business revenue,” said Mayor Lee. “This is the latest validation that our great airport helps power local economies.”
“We are proud to see SFO’s economic contribution on the rise,” said Airport Director Ivar C. Satero. “New airlines and new destinations are good for travelers, but they also benefit local communities, providing more employment and business income.”
SFO continues to set records for passenger traffic. In the calendar year 2015, the Airport reached 50 million annual passengers for the first time in its history, only to break the record again in 2016 with 53.1 million passengers. Fiscal year 2016-2017 traffic levels established another new high mark, at 53.9 million, and calendar year 2017 results are expected to exceed this level.
For more information on the SFO Economic Impact Report, please visit: https://www.flysfo.com/about-sfo.
About San Francisco International Airport
San Francisco International Airport (SFO) offers non-stop flights to more than 49 international cities on 41 international carriers. The Bay Area’s largest airport connects non-stop with 83 cities in the U.S. on 13 domestic airlines. SFO is proud to offer upgraded free Wi-Fi with no advertising. For up-to-the-minute departure and arrival information, airport maps and details on shopping, dining, cultural exhibitions, ground transportation and more, visit www.flysfo.com. Follow us on www.twitter.com/flysfo and www.facebook.com/flysfo.