The Prince George Airport Authority is actively pursuing value-added business partnerships to advance the airport and our region as a Canadian alternative to the Asia - North America transportation growth.
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Canadian airports are responsible for more than $30 billion annually in total economic activity. YXS (Prince George Airport) generated $91.3 million in 2002.
Airports in Canada generate 292,000 jobs. This includes 139,000 directly related to airports and another 153,000 indirectly created in local communities. This total translates into earnings of $8.1 billion. During the year 2002, Prince George Airport supported 665 person years of employment.
Canadian airports generate $4.5 billion in tax benefits including $250,000 generated by YXS. Air transport is a catalyst for technology and development in the region. Without a well-connected air transport system, industries would not be able to operate in Prince George or the surrounding area. Many industries depend on the Prince George Airport (YXS) to market and deliver goods, transport people and provide services to their customers. As a Capital Intensive (CI) industry the Airport relies on the relationship of people and technology every minute of every day. BC's traditional resource industries are themselves rebuilding and evolving into CI industries, exporting their expertise and training to rebuild their competitive advantage.
The Prince George Airport encompasses 800 hectares of land, has all the functions and physical infrastructure of any modern day city, shares governmental responsibilities with the community, and provides essential, if not indispensable, public services. The Airport has several tenants and concessionaires engaged in a wide array of aeronautical and general business enterprises, located on and generating revenues for the Airport. Annual operating budgets run into the millions of dollars, with capital projects accounting for millions more.
The terminal complex, general aviation facilities, airport support facilities (maintenance buildings and equipment), and aircraft operating areas (runways, taxiways and aprons) can easily be valued in the hundreds of millions of dollars for this modest-sized commercial airport. The Prince George Airport is big business, impacting the social, economic, and political life of the entire region.
The Airport is actively encouraging business development and growth in Northern BC. With more than 300 commercial flights per week, the Airport is truly a Gateway for the North. In this role, the airport is able to draw upon new opportunities for the region that have not been available in the past. Jobs can be generated from Capital Intensive industries such as value-added manufacturing, finance, consulting and computer software development. The Airport is aggressively marketing itself as a location to do business throughout North America. The latest venture is the development of more than 300 hectares of Airport property for commercial and industrial use, including aviation and non-aviation enterprises.
Facility and Infrastructure Improvements at the Prince George Airport are primarily funded by monies collected through Airport Improvement Fees (AIFs). Capital expenses and associated debt are just some of the things the money is used for. The runway expansion in 2009 is now complete, but the debt associated with having the third longest runway in Canada remains on our balance sheets.
AIF rates are set with regard to keeping passenger costs as low as possible while provide a safe and secure operating environment. Each enplaned passenger pays the fee which is in Canadian Dollars and exclusive of applicable taxes.