Saturday, August 4, 2012
LITH Airport Packs $28.7 Million Clout Says Study
According to the report, 3CK, the FAA designation for LITH Airport, accounts for the equivalent of 54 full-time workers at the facility and nearby who create $8.6 million worth of goods and services. Travelers through the airport need the equivalent of another 34 full-time hotel workers and restaurant personnel to cater to their needs creating another $2 million of goods and services. "Commercially Important Person", newspeak for business owners and government types who use the airport, account for another 25 full-time equivalent jobs worth $4.8 million in economic output.
Those with latent accounting tendencies will note the numbers only add up to 113 jobs worth $15.2 million of activity. But the money from activity connected to LITH airport gets spent somewhere. That creates more jobs. Which create more activity worth more money. Which, in turn, gets spent somewhere else, and so on und so weiter, world without end. Economists call the cascade the multiplier effect and IDOT's study attributes other 131 jobs and $13.3 million worth of LITH Airport output to it.
Lake in the Hills Airport is designated by the Federal Aviation Administration as a reliever
to Chicago’s O’Hare International Airport where the big jets play. It's the only public airport in McHenry County.Services available at the airport include a Fixed Based Operator that provides full service (notself-serve) fuel and charter flights, a well established flight school and aircraft maintenance repair facilities that draw in pilots from around the region.
Coincidentally, the 2012 Lake in the Hills Airport Aviation Expo is scheduled next Saturday. from 9 am to 1pm. Airport businesses will be on hand to provide information about Aircraft Sales, Maintenance, Flight School, Pilot Shop and Insurance. Lots of aircraft will be on display. A lunch menu of Jersey’s Mikes sub sandwiches, drinks and snacks will be available for purchase. The Lake in the Hills Airport is located at 8407 Pyott Road, near the intersection of Pyott and Rakow Roads. For more info call Mary Anne Basak at 847-860-7503 or 815-379-7960 or Manny Gomez, Airport Manager, at 847-960-7960.