SFO Releases Latest Economic Impact, Fiscal Year Stats
Published on : Wednesday, August 10, 2016
The San Francisco International Airport (SFO) today released updated economic impact data, demonstrating the significant contribution the airport makes to Bay Area economies. This latest report, which summarizes the 2015 Fiscal Year, included the following highlights:
- SFO directly accounted for more than $7.5 billion in business activity in the 2015 Fiscal Year, and nearly 37,600 jobs. The previous report noted $6.3 billion in business activity and 36,400 direct jobs.
- Factoring off-site business activities that depend directly on local air service for staff movements, cargo deliveries, or visitor spending, SFO’s contributes $34.6 billion in business sales with approximately 158,400 jobs to Bay Area economies.
- 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 nearly $61.7 billion in business sales, including $20.7 billion in total payroll and over 295,300 jobs.
“These latest economic impact figures make clear that SFO continues to be a major economic engine, powering jobs and revenue in the Bay Area”, said San Francisco Mayor Ed Lee. “Increased air traffic at SFO is good for travelers, but it also means more jobs and more business activity for our local communities.”
“Our goal is to be an exceptional airport, in service to our communities, and this report demonstrates the contribution SFO makes to local economies,” said Airport Director Ivar C. Satero. “Looking ahead, our focus is on the ongoing development of our airport infrastructure, to ensure that SFO can grow efficiently and continue to make a positive economic contribution in the Bay Area.”
SFO also reported the following for the 2015-2016 Fiscal Year:
- SFO set another new all-time traffic record, serving over 51.4 million passengers. The Airport previously reported a new record of 50 million passengers during the 2015 calendar year.
- SFO added service to eight new international destinations during the 2015-2016 Fiscal Year, including first-ever nonstop service to Delhi on Air India, Singapore on United, and Nadi on Fiji Airways.
Tags: San Francisco International Airport, SFO