- September 17, 2024
-
-
Loading
Loading
On the north and east sides of the airfield at Sarasota-Bradenton International Airport, commuters can use Tallevast Road and 15th Street East to avoid traffic on Tamiami Trail and University Parkway.
More than just a shortcut, though, across the runway from the passenger terminal is a developing aviation ecosystem that is gradually reducing the airport’s dependency on revenue generated by commercial airline operations, fostering a balance between passenger and industrial activities that serve the airport and the community alike.
On Aug. 26, SRQ punctuated a five-year effort to grow that ecosystem by announcing Swiss-based aircraft builder Pilatus Business Jets would invest at least $40 million and create a minimum of 350 high-paying jobs when it opens new sales, maintenance and manufacturing facilities in the “north quad” along Clyde Jones Road. Adjacent to that site, construction is underway for fixed-based operator Sheltair’s new facilities and hangar, joining fellow FBOs Atlantic Air and Dolphin Aviation already operating on the airfield.
Opening this school year was the Team Success school along 15th Street East, an industry-specific Manatee County charter school that opened with 625 students in grades 6-12. And, across 15th Street, planning is underway for a Manatee Technical College aircraft and power plant (A&P) school offering skilled training for aircraft construction and maintenance.
Also along 15th Street, France-based small aircraft maker Elixer plans to build a plant where it will assemble its single-engine prop planes.
It was the two educational facilities providing a pipeline of skilled workers that helped lure Pilatus, which was considering sites across the country. As business ecosystems go — think Silicon Valley, for example — the momentum builds on itself as more manufacturers consider SRQ, bringing more components suppliers, more jobs, more economic stimulus and more tax revenue for local government.
All of that is good for the airport’s bottom line, said SRQ President and CEO Rick Piccolo.
“When I first came to the airport in 1995 the airport was almost exclusively dependent on airlines,” Piccolo said. “That’s not only having airline service where they pay us, but everything else — parking, rental car revenues — all that is really tied to airline service. So if airline service went down, all our revenue sources went down.
"Our industrial revenues were about $200,000 a year then. Today, they're about $3.5 million.”
And once Pilatus, Sheltair, Elixer and other planned facilities are built, that rental revenue figure will grow to about $5 million. The airport has no taxing authority nor does it receive any taxpayer support from either county. It is solely dependent on revenue it generates from rents, fees, etc.
“We make money on all the rents, but it's not just about that,” Piccolo said. “It’s the job pipeline and when we set up all these educational institutions, that helps bring financial benefit to our children and grandchildren who live here.”
The idea is to train and keep talent locally. Aviation ecosystem jobs also generally pay well. Pilatus announced its average wage will be about $80,000 per year.
Companies in the aviation space don’t simply find airports. They have to be recruited. Piccolo said the airport has partnered with the Bradenton Area Economic Development Corp. — all of the airport’s industrial properties are located in Manatee County — to attend annual air shows that rotate between Paris and Farnborough, England.
Those trips are credited with attracting Elixer and Pilatus.
Simultaneous to those and other recruiting expeditions, discussions began at home to plan and seek grants for MTC’s technical school and Team Success to develop the pipeline of talent such companies require. Over the course of about five years, those efforts have culminated in the redefining of SRQ beyond one of the fastest-growing passenger airports in the country.
As an economic engine, in 2022 SRQ supported 23,009 direct and indirect jobs for a payroll of $1 billion and a total local economic impact of $3.2 billion, according to the latest Florida Aviation Economic Impact Study.
The Sarasota-Manatee Airport Authority is investing its growing revenue in passenger terminal and other improvements. Two new escalator banks are now open, flooring has been replaced, Concourse B is being expanded with more amenity space for passengers, five new ground boarding gates are nearing completion for a winter opening, and more parking is being built, all part of a larger $225.9 million capital improvement plan.
There remains more room for ecosystem growth. Of the approximately 100 acres in the north quad, about 50% is now committed. Removed from the airfield just west of U.S. 301 is another 75 acres suitable for suppliers that don’t require runway access. There are also vacant airport-owned buildings along both 15th Street and Tallevast Road in addition to privately owned land near the airport that can host aviation-related companies.
"The other thing we did about five years ago was the north quad area we wanted to develop, we spent about $15 million to redo the drainage, put in the electrical, water and sewer so that it would be basically shovel ready," Piccolo said.
The digging has begun.
