McKINNEY, Texas (Nov. 20, 2024) – The McKinney National Airport (TKI) has an economic impact of more than $299 million annually on the City of McKinney and the surrounding region, according to a new study released by InterVISTAS Consulting Inc. This represents a 41 percent increase from the previous economic impact study published in 2018, which determined that the airport had an economic impact of $212.7 million annually. The new study analyzed the airport’s contributions for the fiscal year ending Sept. 30, 2023.
“This new economic impact study underscores what we’ve known for some time. McKinney National Airport is a vital economic engine for our community,” said Ken Carley, Director of the McKinney National Airport. “The airport’s growth is directly supporting local jobs and boosting our city’s economy in ways that benefit all residents.”
Highlights of the Economic Impact Study:
- Job Creation: TKI supports 1,560 jobs, generating $110 million in wages with direct jobs paying well above the statewide and national averages.
- Economic Output: TKI contributes over $299 million to the local economy.
- Tourism Impact: Visitors arriving through TKI generate over $21.7 million in local spending and support 410 jobs in the hospitality and services sectors.
- Capital Investment: TKI invested $19.2 million in capital improvements, generating $38 million in economic output and supporting 200 jobs in the process.
Job Creation
McKinney National Airport supports 420 direct jobs, with total wages reaching $43 million, averaging $103,400 per job, which is well above the Texas average of $65,400 and the national average of $68,500. Since the last study, direct employment has increased by 48 percent, driven by rising aviation traffic and new business growth at the airport. When factoring in indirect and induced impacts, TKI’s operations contributed to a total of 950 jobs and $81 million in wages. Additional impacts from capital improvements and visitor spending contributed to a total consolidated impact of 1560 jobs.
Tourism Impact
According to the report, McKinney National Airport facilitated travel for 56,900 visitors, who contributed $21.7 million to the local economy. This marks a 155 percent increase in visitor volume and a 235 percent increase in visitor spending since the previous impact study. “Without the volume of air visitor traffic facilitated by TKI, the demand for tourism and hospitality in North Texas would be smaller, and the size of the tourism and hospitality industry, including the number of jobs and the economic activity it generates, would be smaller,” noted the report.
“McKinney National Airport is one of our city’s most powerful assets,” said Mayor George Fuller. “This study highlights just how critical the airport’s growth and development are to McKinney’s prosperity. By continuing to invest in the airport, we’re investing in sustainable economic growth, creating jobs, and positioning McKinney as a key destination in North Texas for both businesses and visitors.”
To learn more about the McKinney National Airport and to view the full economic impact study, visit FlyTKI.com.
