• Executive Summary - The Economic Impact 2007 (pdf 650kb)
• The Economic Impact of Comox Valley Airport and the Regional Tourism 2007 Industry (pdf 2mb)

A recently released 77 page economic impact study carried out by InterVISTAS Consulting Inc. states that "On-going operations at YQQ businesses and the regional tourism industry generate $237 million in wages and result in 11,300 direct jobs representing 9,100 person years of employment."

While it comes as no surprise that the Comox Valley Airport has had a significant impact on the regional economy, CEO Chuck Fast says that the findings in this comprehensive study document the vital role of the airport to the tourism industry and to the regional economy. "Vancouver Island is the draw for tourism, but the economic impact goes far beyond just tourism. Increasing market awareness and introducing those markets with new airline services to Vancouver Island is the focus of the airport and this has produced dramatic results. Good air transportation positively influences economic activity throughout the region. The up turn in the real estate market is another good example of the positive effect of the airport."

Comox Valley MLA and Minister of Tourism, Sport and the Arts Stan Hagen states "What the InterVISTAS document clearly demonstrates is that Comox Valley Airport is an integral partner in reaching the Province's target of doubling tourism revenues by 2015, as stated in the B.C. Tourism Action Plan. The key objective in this Action Plan is to enable the tourism industry to grow from "good" to "great". The outstanding economic impact of the airport and the regional tourism industry is an example of what can be achieved with progressive and forward thinking. I congratulate the Comox Valley Airport and Comox Valley Tourism for leading the way as conduits for success."

Meaghan Cursons, Marketing Manager at Comox Valley Tourism fully accredits the Comox Valley Airport as a key factor in the tourism economy of the Comox Valley and throughout the region, saying "the airport has been very instrumental in the success of Comox Valley Tourism initiatives. Their support and partnership has been critical for our destination marketing over the past several years through supporting advertising in travel publications or attendance at key market trade shows. Essentially, the airport is the primary gateway to the incredible product of Vancouver Island. It is a portal to success and prosperity for entrepreneurs and organizations in a range of industries on Vancouver Island."

Dave Petryk, CEO of Tourism Vancouver Island, states " the linkages between tourism and transportation can be considered make or break for both sectors. If tourism demand is strong the need for transportation is also strong. If there is affordable and convenient transportation links to a destination it gives the destination a significant competitive advantage. This report describes exactly how that works for Vancouver Island. It is extremely encouraging to see how much opportunity we have on Vancouver Island by working collaboratively."

"The Comox Valley Airport's operation in the last couple of years has played a vital role in the growth of tourism on Vancouver Island "says Karen Bonell, Manager of Marketing at Mount Washington Alpine Resort. Our Resort has seen an increasing number of visitors from across Canada as a result of the direct access to the Comox Valley. Travellers are also extremely complimentary about the airport terminal, its staff and accessibility."

With the influx of tourists there has been a correlation in increased housing purchases. According to Marty Douglas, Managing Broker of Coast Reality Group, 46% of buyers in The Comox Valley came from Vancouver Island and 68% from within BC. The 32% from outside BC are led by Alberta. Putting it another way, as house prices in Calgary and then Edmonton soared in the past ten years, overtaking Comox Valley prices in 1998 and 2003 respectively, Albertans looked for places to invest and spend their money. Without the new YQQ they could have been in Saskatoon."

Another example of the economic impact of the airport and the regional tourism, industry is the $119 million contributed to government tax revenues. $36.5 million went to the province and $82.6 million to the federal government. On a local level through property taxes there was a contribution of $80,000 from the Comox Valley Airport Commission and airport tenants. Mayor Jim Brass says the InterVISTAS report is great news for the Comox Valley. The new terminal is a real testament to what can be accomplished with community support, and we are all excited about what the future will bring. We look forward to working with the Airport Commission to bring these future plans to fruition."