PALM SPRINGS, Calif. (KESQ) – An financial research commissioned by the Palm Springs Worldwide Airport revealed it generated $2.5 billion into the area’s economic system and supported 18,377 jobs in the course of the 2024 fiscal yr.
“As we plan for the Coachella Valley’s future, this report makes it clear that PSP is a cornerstone of long-term financial progress,” Mayor Ron deHarte mentioned in a press release. “It is not nearly journey — it is about jobs, funding and alternative.”
Further figures revealed that employees earned $864 million in revenue on account of the airport and that vacationers who handed by way of the it spent $1.1 billion.
The research confirms three main sources have been used to decided the airport’s financial impression, together with operations, capital outlays and customer spending.
Airport operations, contains business airline providers, aviation, air cargo, automotive leases, terminal concessions and federal authorities employment, which has employed 7,223 folks.
Capital expenditures in building tasks and routing upkeep didn’t considerably add financial worth, as PSP didn’t endure a lot enhancements final yr.
“Customer spending emerged as the first financial driver,” in response to the report. It includes of meals providers, arts, leisure, recreation and lodging. Friends have spent over a billion {dollars}, as this business sector is taken into account essentially the most sought-after, the report finds.
“This research demonstrates how deeply PSP is woven into the financial material of our neighborhood,” Govt Director Harry Barrett Jr. mentioned in a press release.
The report additionally particulars future plans at PSP over the following decade, together with a brand new concourse, a Federal Inspection Station to increase worldwide air service and a rental automotive heart.
The Palm Springs Metropolis Council authorised of a Grasp Plan earlier this yr, which is able to take a minimum of a decade to imiplement, which goals to increase providers, together with new gates and expanded baggage declare. Projections recommend the end result might be the creation of greater than 9,000 jobs, a further of $641 million in labor revenue and over a $1 billion added to the full financial output.
