A consulting firm recently completed a new economic impact study of Southport.
The report prepared by InterVISTAS Consulting Inc., aimed to explore the impact Southport Airport and Commercial Properties operations and activities have on the local region and province.
According to the report, Southport directly creates 570 jobs, 540 full-time equivalents, $33-million in income, $67-million in gross domestic product and $111-million in economic output on an annual basis.
“The three major components of economic impact are classified as direct, indirect and induced impacts,” the report explains, “which capture how the economic impact of Southport can spread throughout the local and provincial economy.
The study defines direct impact as those at Southport and Southport-related businesses. Indirect refers to supplying and supporting businesses, and induced relates to direct and indirect employees spending in the economy.
In a comparison provided to 2012 statistics, the total annual impact – which includes direct, indirect and induced economic impact — in employment, wages, GDP and output has increased at Southport. Jobs increased from 920 to 970; Wages went from $50-million to $52-million; GDP increased $23-million from $80-million to $103-million; And output grew to $170-million from $150-million.
According to the report's executive summary, the study was commissioned to review and update the economic impact of Southport considering changes at the commercial centre in 2016 including the opening of the Central Plains RecPlex and the addition of a day care. An initial study was first conducted in 2013.