SFO CONTINUES TO BE KEY ECONOMIC GENERATOR FOR THE REGION
San Francisco International Airport (SFO) directly accounts for over $10.6 billion in business revenues and supports more than 46,000 jobs at the airport, according to its latest economic impact study.
The report, which summarises economic impact for the 2017-2018 Fiscal Year, also reveals that visitor spending resulting from air service at SFO contributed over $12.5 billion in additional business revenue, and 113,253 jobs in the region.
The figures are up from $10.5 billion and 96,121 jobs respectively in the last study.
The latest study notes that 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 even further.
To be more specific, it raises the economic impact to over $72.7 billion in business sales, including $25.8 billion in labour income and over 330,000 jobs.
“This latest report highlights the significant role that SFO plays in the economic health of our region,” said SFO’s airport director Ivar Satero.
“It also shows that our ongoing capital investments ultimately benefit local economies, powering job creation, labor income, and business revenues.”