Canberra Airport, which drives more than 7per cent of the ACT's economic activities, is building in anticipation of more growth in passenger numbers and subsidiary businesses, including air freight.
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Managing director Stephen Byron said even though aviation faced day-to-day concerns such as the European debt crisis, volcanic ash and airline strikes, Canberra Airport's long-term outlook was positive.
An initial cost estimate of $350million for its new terminal, due for completion in 2013, has risen to $420million, with additional capacity and plans for more businesses.
Mr Byron was commenting on a report to be issued today by economic consultant ACIL Tasman which says the airport is generating more than 12,400 jobs and contributing $1.34billion to the ACT's gross regional product. The airport commissioned the report to more precisely determine the economic benefits of the airport to the region. Non-aviation businesses are creating more jobs and income than activities in the air. The report says aviation-related activities create 975 full-time jobs and income of $285million in the ACT region while non-aviation activities generate 9219 jobs and income of $850million.
The non-aviation activity includes financial services, information technology and communications operating out of Brindabella Business Park where tenants have been drawn by the airport because they can readily service the east coast of Australia, while being near government and Defence clients.
The report estimates by 2030, assuming a medium growth scenario, total activities associated with the airport are expected to generate more than 21,000 jobs while the value added to the local economy is estimated at $2.42 billion a year.
Mr Byron said it was well known that aviation was a driver of economic growth as well as a beneficiary, but the airport wanted to put that into a Canberra region context
''We also wanted to look at what the economic impacts would be for the life of our Commonwealth-approved master plan over the next two decades.''
Passenger numbers through the airport are expected to grow by more than 4per cent, from more than three million in 2008-09 to almost 7.25 million passengers by 2029-30.
A high-range forecast in the report based on a scenario where Canberra Airport attracts some overflow traffic from a congested Sydney Airport, particularly in the last eight years of the forecast period, would see overall passenger traffic exceed 8.8million a year by 2029-30.
Mr Byron said freight companies Australian Air Express and Toll were in ongoing talks, while another freight carrier was interested in an international operation out of Canberra.
Talks could lead to new freight services starting in Canberra in the near future. Canberra Airport has also been approached by flight schools to establish a training college with on-site accommodation.
