Economic Impact of the William J. Hughes Technical Center on Southern New Jersey: Update 2015.

摘要

The FAA William J. Hughes Technical Center has always been a major contributor to the economy of Southern New Jersey. This was clearly demonstrated by earlier analyses of the economic contributions of the William J. Hughes Technical Center (in this study the Technical Center includes the major tenant organizations and departments on the property; the FAA refers to only the William J. Hughes Technical Center itself) to the economy of Southern New Jersey. The first study was undertaken in 1996 (ACT-500 Research Group, 1997) and was updated in 1999 (ACT-500 Research Group, 2002). The region of concern has experienced economic upheaval due to the restructuring of the tourist/casino industry and the long term effects of the 2007 Economic Recession. Accordingly, the FAA contracted with the Center for Regional and Business Research (CRBR) to reassess the impact of the Tech Center. This study utilized data obtained for calendar year 2014. The results indicate that the Technical Center contributes over $678 Million Dollars to the Southern New Jersey Economy and is responsible for 7,761 full time jobs.