Greater Oklahoma City Chamber - Aerospace reaches new heights in Oklahoma

Aerospace reaches new heights in Oklahoma

Tuesday, August 15, 2017 5:00 am

by Jack Money

NewsOK

Economic incentives, the continued growth of military-related aviation missions and the hard work of local, state and regional economic development specialists and educators are showing results when it comes to the economic impact of the aerospace and aviation industries to Oklahoma's economy.

A study released Monday by the Oklahoma Aeronautics Commission estimates the industries now are the second-largest sector of Oklahoma's economy, generating an annual economic impact of about $43.8 billion.

The industry — which consists of 109 airports, hundreds of off-airport aviation/aerospace employers and military aviation — employs more than 200,000 people and creates an annual payroll of about $12 billion.

The study estimates military aviation continues to be the largest contributor, bringing an economic impact of $19.3 billion.

Off-airport aviation and aerospace employers are next, with $13.9 billion.

The state's 109 general and commercial aviation airports, which employ 74,002 workers, have an economic impact of $10.6 billion, the study estimates.

Read the full story at NewsOK.com