Five ways tax reform legislation can spur infrastructure investment
Airports are too often seen as merely supporting assets to the revenue generators of air travel. However, airports have the potential to catalyze massive economic benefits outside of the perimeter fence.
When designed, executed and operated well, airports will generate more jobs, facilitate increased business interactions, encourage co-located commercial development, support increased trade in goods, and will likely open up regions to more cross-sector investment.
This is being recognized in airport developments around the world, with European and Asian airports dominating various surveys and rankings of airport quality and projected economic growth.
US airports are also increasingly recognizing this, with concepts such as "airport cities" in various stages of planning, such as in the cases of Memphis and Denver international airports.
According to the FAA, the aviation sector in the US currently generates nearly $1.6 trillion per annum for the economy through its entire value chain, and aviation traffic is expected to grow 2.6% year-on-year out to 2036.
PwC recommends the following steps to help airports focus on programs that drive competitiveness and yield regional and systemic benefits:
PwC evaluated 30 of the largest airports in the US, accounting for 72% of all passenger boardings, to understand to find out how well they address the five focus areas that help increase competitive advantage for their regions.
In light of the major political events in 2016, we assess the potential impact on airport asset investment and management.
The market for public-private partnerships in the US is growing, with an increasingly diverse range of projects entering the pipeline and reaching financial close.
Airlines have long grappled with uncertainties. They can no longer afford to be at the whim of economic cycles. Current conditions of profitability open the window for the industry to aggressively innovate for the future.
Public Sector Economic Development, State and Local Government
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Public Sector Operations and Change Management, State and Local Government
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Infrastructure Strategy and Economics, Cities of the Future