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Memphis - Economic engine

Is the establishment of Memphis as America's aerotropolis a reasonable expectation? Is becoming one of the world's most recognised air service centres achievable? Does Memphis have the foundation to support its vision?

The answer to all three of these questions lies in the most recent of a series of economic impact studies undertaken in 2008 and released in 2009 that gives a picture of a thriving, airport dependent economy that is a true asset to its community.

The study revealed that the airport directly or indirectly pumped more than $28 billion into the five-county metro area.

Air cargo yielded $27.1 billion in economic impact; followed by air passenger operations of $1.3 billion; and airport construction some $138.3 million. An additional $760 million was traced to spending by tourists flying into the airport.

The study, which was carried out by the University of Memphis Sparks Bureau of Business and Economic Research, also revealed that a total of 220,154 jobs linked to air cargo, air passenger and airport construction businesses were created, representing one in three jobs within the surrounding districts.

On the passenger side, Memphis Airport, an international gateway with a global reach, was able to achieve 5,263,516 enplanements in 2007 and processed nearly 10 million passengers through its facilties in 2009.

With the recent merging of Delta Air Lines and Northwest Airlines (a long-time hub operator in Memphis) there is confidence that passenger numbers will increase and thanks to its seamless passenger transfer facilities, Memphis calls itself America's 'Hassle-Free Connecting Hub'.

The gateway has also benefited from one of the most aggressive economic development campaign's the city has ever undertaken. Called Fast Forward, it is a partnership of Memphis Tomorrow, the Greater Memphis Chamber, and both the City of Memphis and Shelby County and 2,500 businesses to drive economic growth.

Factbox

  • Year opened 1929
  • Airport size 1,578 hectares
  • Total employees xxx
  • Terminals 3
  • Gates 82
  • Aircraft movements 305,878
  • Mppa 8.9 million
  • World passenger ranking 36
  • Annual cargo volume 2.7 million tonnes
  • World cargo ranking 1
  • Existing airport city developments The FedEx World Hub, Tennessee Air National Guard expansion
  • Future airport city plans 20-year master plan
  • Intermodal links xxx
  • Economic contribution to the surrounding region $28 billion, 220,154 jobs

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