Aerospace at Port Generates $1.5 Billion in Local Economic Activity Annually

JOC Staff |
In January Port San Antonio released a study showing that the 13 aerospace companies at the complex generate $1.46 billion in economic activity for the region each year, supporting more than 8,000 jobs. The Port commissioned the SABÉR institute, a research collaborative between St. Mary’s University and the San Antonio Hispanic Chamber of Commerce, to analyze data provided by the aerospace companies with facilities at the Port.

The study indicated that 4,300 area residents are directly employed by the companies. This activity also creates indirect or induced employment for an additional 4,500 people. Combined, this local workforce earns $487 million annually. The companies also generate $683 million in value added impacts along with $145 million in local, state and federal taxes.

“These findings are a powerful reaffirmation that Port San Antonio is on the right track to continue healthy economic growth into the 21st century,” said Bruce Miller, President and CEO of Port San Antonio. “The Port and its partners are making a real difference that is providing thousands of families in our community economic stability today and a future they can look forward to.”

“We are very heartened to see how, with careful planning to attract, retain and allow aerospace companies to expand, Port San Antonio is helping our city chart a course for the future,” said Ramiro Cavazos, president and CEO of the San Antonio Hispanic Chamber of Commerce.

Furthermore, several Port San Antonio aerospace tenants have announced expansions to their operations starting in 2010. In 2009 Boeing invested $6.4 million to improve its facility so it can soon begin to service its next generation of aircraft (the 787 Dreamliner) at Port San Antonio. Gore Design Completions is adding 65,000 square feet of space to its 120,000 square-foot hangar. And Lockheed Martin recently announced it is focusing on the development of new commercial business in addition to its military aircraft engine work at Port San Antonio.