Ocean City Municipal Airport
In 2005, the Airport and its tenants contributed the following direct, indirect, and induced benefits to the regional economy:
- Jobs: 75
- Personal Income: $3.5 Million
- Total Business Revenues: $5.1 Million
- Local Purchases: $1.6 Million
- Tax Revenues: $358,000
Airport activity generates business revenue as a result of the provision of air passenger service, freight service, and ground support services for commercial and general aviation activity.
The employment impact of aviation activity consists of four levels of job impacts:
- Direct employment impact - jobs directly generated by airport activity.
- Induced employment impact - jobs created throughout the regional economy because individuals directly employed due to airport activity spend their wages locally.
- Indirect employment impact - jobs generated due to the purchase of goods and services by firms dependent upon airport activity.
The income impact is the measure of personal wages and salaries received by individuals directly employed due to airport activity. This direct personal income is re-spent throughout the region, which in turn generates additional jobs, or an induced employment impact.
State and local tax impacts result from tax payments to the state and local governments by both firms and individuals involved in providing services in support of airport activity. State and local tax impacts include revenues associated with all types of taxes. Also included in the tax impact are federal aviation-specific taxes generated by air passenger and air cargo activity.