Aeroports de Montreal

Aeroports de Montreal

September 16, 2014 15:15 ET

Laurentians Region Obtains the Lion's Share of Economic Spinoffs From Mirabel Airport

- Nearly $6 million in property taxes a year paid to the City of Mirabel

- 45% of 3,700 direct employees live in the region

MONTRÉAL, QUÉBEC--(Marketwired - Sept. 16, 2014) - Aéroports de Montréal (ADM) today released the results of a comprehensive economic impact study showing that Montréal-Mirabel International Airport is more than ever an important economic driver for the entire Greater Montréal region, and particularly for the Laurentians and the City of Mirabel.

The study, conducted by E&B Data and available on the admtl.com website, confirms that Mirabel airport has been successfully transformed into a world-class aviation hub, with 86% of its 3,700 direct jobs now linked to the high-added-value aerospace sector, including the manufacture and repair of aircraft, engines and other aircraft components.

Some 30 companies and organizations are currently located on the site, including Bombardier Aerospace, Pratt & Whitney, Mecachrome, Aerolia, L3 Communications and Nolinor.

"We are now seeing a lot of activity on the Montréal-Mirabel airport site, with jobs that are generally of higher quality and better paid than those of the past," said ADM President and CEO James C. Cherry.

He added: "Aéroports de Montréal is very proud to be contributing, together with the three levels of government, to the development of this world-class aviation hub for the benefit of all of Québec, especially the Laurentians region and the City of Mirabel."

Using the intersectoral model of the Institut de la statistique du Québec, E&B Data estimates that industrial-airport operations at the Montréal-Mirabel site generate a total of about 10,000 jobs (direct, indirect and induced), representing $506 million in compensation and $350 million in purchasing power.

The current operations of companies at Montréal-Mirabel, along with their investment projects, contribute $1.1 billion to Québec's GDP. The Montréal-Mirabel site also generates about $200 million a year in tax revenues (income and other taxes and quasi-tax revenues).

The City of Mirabel collects nearly $6 million a year in property taxes from companies on the Montréal-Mirabel airport site, while the Laurentians region receives the lion's share of the airport's economic spinoffs: nearly half (45%) of employees currently live in the region and contribute to the regional economy through consumer spending and municipal taxes.

"Mirabel airport is a strategic asset and ADM is constantly working to improve its performance through investments of some $170 million over the next few years, including $40 million for the repaving of Runway 06-24," Mr. Cherry concluded.

About Aéroports de Montréal

Aéroports de Montréal is the local airport authority that has been responsible for the management, operation and development of Montréal-Trudeau and Montréal-Mirabel international airports since 1992. The Corporation employs 625 people at both airports and at head office. ADM has been ISO 14001 certified since 2000 and BOMA BESt certified since 2008.

For further information on Aéroports de Montréal and its operations, please visit our website at www.admtl.com.

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