In a 2023 “State of the Airport” presentation Monday, DFW International Airport released the first major update about its economic impact since 2015, and unveiled two video looks at the airport’s future, when Terminal C is reconstructed and the all-new Terminal F opens for operation.
The updated economic impact study, conducted by the Waco-based Perryman Group, said the airport contributes an estimated $38 billion in direct and indirect payroll support, $24 billion in visitor spending, and about $5 billion in state and local tax revenue each year—while supporting more than 634,000 direct and indirect jobs.
“We’re proud to continue serving as one of the main economic engines not just in North Texas, but in the entire state of Texas,” Sean Donohue, the airport’s CEO, said in a statement. “DFW is committed to making the investments and developing the strategic relationships around the world that will lead to even more destinations, support new flights, create unforgettable travel experiences, and attract the best talent in the industry.”
Mayors laud the airport’s impact
The two mayors whose cities are in the airport’s name had their own laudatory comments for the international gateway between their locales.
“DFW Airport is an incredible asset driving the economic activity for our entire metro area, which is the fourth largest and fastest growing in the country,” said Dallas Mayor Eric Johnson. “Since I became mayor, DFW has become the second-busiest airport in the world, supporting over 634,000 jobs across our region.”
“Airports are not just gateways to the world, they are gateways for our community’s prosperity and progress,” Fort Worth Mayor Mattie Parker added. “DFW’s success as a job creator and economic engine is connecting our region to global audiences and enhancing economic opportunities for our businesses and residents alike.”
The economic impact study shows that visitor spending since 2015 has increased 24.7% ($19.2 billion to $23.96 billion), while the number of jobs that the airport supports has grown 25% (508,272 to 634,789). The Perryman Group estimates that DFW Airport operations and passenger spending led to an increase in annual tax receipts totaling approximately $7.1 billion to the federal government, $3.1 billion to the state, and nearly $2 billion to local government entities across the North Central Texas region, the airport said.
Updated renderings of the forthcoming Terminal F and reconstructed Terminal C
The airport also released new video renderings of the all-new Terminal F and upgrades for Terminal C.
In May, the airport and American Airlines signed a new 10-year use and lease agreement, which includes $4.8 billion in pre-approved capital investments—including the construction of Terminal F, the renovation of Terminal C, and “other significant modernization projects.”
An estimated $1.63 billion was slated for the construction of a new Terminal F. The airport has said it will include a 15-gate concourse and provide “state-of-the-art facilities and amenities, including modernized baggage handling, expanded concessions and additional passenger gates to accommodate the growing demand for air travel.”
An estimated $2.72 billion was slated for the expansion of the airport’s Central Terminal Area, “including a major reimagining of Terminal C, ‘pier’ expansions off Terminal A and Terminal C, and significant upgrades to roadways and terminal access.”
More looks at the forthcoming Terminal F
More renderings of an upgraded Terminal C
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