The Tennessee Aviation System Plan (TASP) and Aviation Economic Impact Study, managed by the Tennessee Department of Transportation (TDOT) Aeronautics Division, has released findings using a variety of metrics that show a total annual economic impact of $53.7 million for the Lebanon Municipal Airport.
“The City of Lebanon recognizes the significant economic contributions that the Lebanon Municipal Airport has on our city and region. We appreciate the TDOT Aeronautics Division for their diligence in tracking and measuring this information,” said Mayor Rick Bell. “Our participation in these programs allow us to further understand the measurable positive impact the airport has locally, and it’s great to know we are making a positive impact in Tennessee’s economy as well,” he said.
In addition to the total economic impact of $53.7 million which includes On-Airport Impacts and Visitor Spending Impacts, the Lebanon Municipal Airport employed 269 jobs, has a payroll of $18.7 million, added $32.4 million to the Tennessee Gross Domestic Product (GDP) and U.S. GDP and finally, generated $53.7 million of business revenue.
“We are so grateful to have participated in this study and have this study to share with Lebanon’s residents,” said Mayor Rick Bell.
“Lebanon Municipal Airport is making strides to better our economy and provide safe travel for residents and visitors. We are thankful to continue doing business during these times and we look forward to continuing to serve the aviation community for years to come,” added Airport Manager Heather Bay.
View the Executive Summary, including the breakdown of each Tennessee airport, at https://www.tn.gov/content/dam/tn/tdot/aeronautics/TASP-Economic%20Impact%20Brochure.pdf.