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12/20/2011 |
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Chamber Releases Economic Impact Study of the Aerospace Industry |
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In 2010, the economic impact of the aerospace industry in San Antonio was $5.4 billion, according to a study conducted by Trinity University professors Dr. Richard Butler and Dr. Mary Stefl.
The Chamber focuses on the industry for economic development because of the high paying jobs it provides to the area. Salaries in the aerospace industry exceed the average in San Antonio by a substantial margin. The aerospace industry paid $678 million in wages to 13,616 employees during 2010. It is important to note that the study does not reflect any new jobs that were added during 2011, neither does it reflect military personnel that are a part of the large military aviation presence in San Antonio.
The San Antonio aerospace industry numbers includes a range of businesses that manufacture aircraft equipment and parts, service and repair aircraft, produce and distribute transportation equipment and supplies, provide both scheduled and unscheduled air transportation and operate flight schools. The impact study broke these areas into two sectors: services/manufacturing and transportation.
The economic impact of the services/manufacturing amounted to $2.84 billion, while transportation contributed $2.54 billion.
The study is based on information from the Texas Workforce Commission’s (TWC) Covered Employment Wages database and uses the quarterly wage and employment data aggregated along the lines of business defined by the North American Industrial Classification System (NAICS).
To read the full report, click here >>>
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