— UDOT Releases Airport’s Economic Impact Report —
Heber Valley Airport (HCR) is a significant economic contributor to the community it serves, according to a newly released report by the Utah Department of Transportation (UDOT). Published in November 2021, the UDOT economic report tells HCR’s unique story — one of jobs created, annual payroll and tax revenues generated, and the reinvestment needed to keep airport infrastructure safe, secure and modern. The state’s report also notes that airport benefits far exceed annual development costs.
The UDOT report reveals that the Heber Valley Airport operation creates 170 jobs annually, through on-airport careers, construction and other trades jobs generated through HCR development projects, and tourism-related jobs connected to popular regional destinations.
Through an interconnected web of 170 people in their professional roles, HCR supports Heber City’s primary economic sector, tourism, by hosting visitors to the Sundance Film Festival, Red Ledges Resort Community, and Deer Valley Ski Resort. An annual payroll of $6.1 million for these 170 positions contributes to $10.7 million in annual spending for the region.
ANNUAL ECONOMIC AND TAX BENEFITS
Another report highlight is that Heber Valley Airport generates $16.8 million in annual economic activity, which represents dollars flowing into the economy from payroll and spending. Benefits also come in the form of taxes, with HCR generating $624,200 in annual sales and income tax revenue, through spending in the region and employee payroll tax withholdings, respectively.
AIRPORT BENEFITS EXCEED DEVELOPMENT COSTS
A significant revelation from the UDOT report is that Heber Valley Airport’s annual economic activity of $16.8 million far exceeds the $1.3 million average annual investment needed to maintain and improve the airport. In other words, HCR is well positioned to continue to generate economic benefits that are passed on to the community that the airport serves.
The UDOT-prepared report follows generally accepted economic forecast modeling practices. See the full economic impact report for Heber Valley Airport here.