Van Nuys Airport (VNY) is a focal point for business and industry in the San Fernando Valley, with four major fixed-base operators and over 100 businesses located on the 730-acre property.
The latest report released by the Los Angeles County Economic Development Corporation (LAEDC) reaffirms that VNY continues to be a major economic engine for the San Fernando Valley and the greater Los Angeles area. The study finds that VNY contributed more than $2 billion in business activity to the L.A. county economy in fiscal year 2015, which includes 10,480 jobs, $674.6 million in labor income, $2.0 billion in business revenues, and $295.3 million in local, state and federal tax revenues.
VNY will be spending $63.9 million on Airport Capital Improvement Projects (ACIP) and non-ACIP projects through 2022 to meet future aviation needs in Southern California. The economic impacts of capital improvement projects include 670 jobs, $37.2 million in labor income, $107.5 million in business revenues, and $13 million in local, state and federal tax revenues.
Investments by airport tenants in facilities at VNY is also resulting in positive returns. The study estimates that for every $1 million spent on capital improvement projects, there will be positive economic impacts of $583,000 in labor income, a total of $1,682,300 in business revenue and a total of local state and federal taxes of $202,700.
In addition, an estimated 32,000 visitors arrived in Los Angeles County through the airport with an economic impact of $9.1 million and supported 90 jobs with a labor income of $3.7 million.
To view the 2015 Economic Impact Study for Van Nuys Airport in Adobe Acrobat PDF file, please click below:
Van Nuys Airport Economic Impact Study (Full Version) - 2015
Van Nuys Airport Economic Impact Study (Condensed Version) - 2007
Van Nuys Airport Economic Impact Study (Full Version) - 2007