Branson Airport’s economic impact pegged at $455M

Branson Airport appears to be a loss leader for its region, according to a study conducted by Arizona State University.

The report commissioned by the Branson/Lakes Area Chamber of Commerce and Convention and Visitors Bureau found the airport known by its BKG service code had a 2010-15 economic impact of $454.8 million. The economic impact report showed tax collections related to the airport totaled $14.5 million during the five-year period and the airport supported 688 jobs on average annually, according to a news release.

The airport - which cost $148 million to build - recorded $21 million in combined net operating losses during its first four years in business after opening in May 2009. Losses came in at around $3.5 million last year, according to Springfield Business Journal archives.

The airport’s impact peaked in 2013, but declined the following two years as Dallas-based Southwest Airlines Co. (NYSE: LUV) and Denver-based Frontier Airlines pulled out.

“The key to restoring economic impact from the airport on the local economy is to grow air service,” BKG Executive Director Jeff Bourk said in the release.

Important in that effort is the Taney County Partnership and the Air Service Development Committee, Bourk said. The two organizations have gathered public and private partners to invest in a fund for attracting a new major airline. The public fund has collected $1 million so far, while private sector monies have not been disclosed. The fund is designed to serve as a risk pool for new airlines entering the market that may take time to become established locally, according to the release.