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Airport and Economic Development

Source: www.bus.wisc.edu
Topic: Economic Development

Sort Desciption: reasonable to posit that airports lead to economic development ... maintained hypothesis that airports matter to economic development but they have not ...

Content Inside: A Note on Airports and Economic Development By Richard K. Green Department of Real Estate and Urban Land Economics School of Business University of Wisconsin-Madison 975 University Avenue Madison WI 53706 608-262-5227 (V) 608-265-2738 (F) rkgreen@facstaff.wisc.edu rk_green@hotmail.com Preliminary Draft. Please do not cite or quote without permission. I thank Tonia Rumrill for research assistance and Joe Walsh for help with Arcinfo. All errors are mine. Comments welcome. A Note on Airports and Economic Development By Richard K. Green University of Wisconsin-Madison June 10 2002 I. Introduction The popular press and local economic development boosters often cite hub airports as mechanisms for helping metropolitan areas grow. We will present a number of examples of such boosterism below. Moreover there are a variety of literatures that touch on the importance of infrastructure in general and airports in particular to economic development and also on the financing of such infrastructure. Yet so far as I can tell there have been a limited number of studies that have looked at the impact of airports on regional growth. In light of the many claims that have been made about the importance of airports to economic activity this may seem surprising. Indeed we may draw a contrast with the sports stadium literature which contains a large number of papers (see e.g. Zimbalist 2001). That literature which generally produces evidence that stadiums are not important to economic development involves a type of infrastructure which is much less costly than airports and which has much less direct influence on both business and consumption than airports. In fact one of the things that makes airports inherently interesting is that roughly two million people take a commercial flight every day (see FAA 2001) so many people can relate to the issues surrounding them. Airports are also controversial. It seems that for every business leader who wants to see his or her lo ...

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