Airports play key component to city’s budget

By coffman | Nov 14, 2017 | News, news-home | No Comments

By Gus Pedrotty
KOB4

ALBUQUERQUE, N.M. — Tired of fishing for facts? Well, let’s reel in some good info on the airport and our city.

 Why the airport? Because it’s run differently and effects all of us. Learning about the airport shows us a lot about the rest of our government. Let’s start with some facts. Our city gains revenue in eight funds, but let’s talk about enterprise fund.

Enterprise funds are portions of our city government that operate like private businesses. These funds are self-sustaining and are supposed to operate within their own means and revenue. Together, seven enterprise funds account for 15 percent of our budget resources. Enterprise fund information can be found in the city budget between pages 71 and 84.

The enterprise fund many of us know best, without knowing it, is the airport. After the 2008 airline recession, our airport became more robust and increased non-airline revenue. It is now at 55 percent. Even with the addition of new airlines, that means that our airport does a whole lot more than get you places.

With all of this acreage, what goes on here?

Albuquerque’s two airports, Double Eagle II and the Albuquerque International Sunport, are developing to create industry clusters. Double Eagle II is working on a new master plan and an Aerospace Technology Park while the Sunport is creating a mixed-use Aviation Center of Excellence on the decommissioned North/South runway.

All of this creates more jobs for our community.

Without using city tax dollars, airports play off of resources available only to them like federal airport improvement grants and airport bonds. The city can leverage and plan alongside this bonding capacity to maximize resource effectiveness.

Opening up the airport’s resources to the community at large will be extraordinarily beneficial. One instance of this is the recent inclusive reorganizing of the Sunport’s Foreign Trade Zone. Our FTZ can benefit companies within a regional footprint- not just adjacent to the Sunport. Now more businesses can benefit from their goods being free of duty and excise tax- making us more competitive and attractive for international trade.

So next time you take a trip, know that your airport is helping you out even before take-off and after landing.

Original story here.

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