25-02-2025
Report: Colorado's ‘largest economic engine' generated billions for state economy
DENVER (KDVR) — The Denver International Airport is continuing to hold the title of Colorado's 'largest economic engine' after the 2025 Colorado Economic Impact Study results were released Monday by the Colorado Department of Transportation's Division of Aeronautics.
The study found that the airport contributed about $47.2 billion to the state's economy during 2023, which is a 40.9% increase from the previous study released in 2020. Additionally, the report found that DIA supported over 244,000 jobs and $15.9 billion in payroll during 2023.
Denver's airport releases new details and timeline for Great Hall project
Of that total revenue generated, $28.8 billion was created through on-airport activities and another $18.4 billion was generated by visitor spending.
'Denver International Airport fuels our economy, supports tens of thousands of jobs, and connects our city to the world,' said Mayor Mike Johnston in a DIA release celebrating the study's results. 'With every new flight, every new investment, and every traveler who chooses Denver, we reinforce our vibrant city as a leading destination for tourism, business, and economic success.'
Statewide, about $68.9 billion was reported in aviation business revenues. Of that, $23.5 billion went to payroll and supported over 348,000 jobs. The second largest airport in the state, the Colorado Springs Municipal Airport, reported business revenue of almost $5.2 billion during 2023. The airport also supports over 34,800 jobs, according to the state report.
The state study looked at the direct impacts of the airport, which included airport administration, airport tenants, capital improvements, commercial visitor spending and general aviation visitor spending. Multiplier effects calculated by the study included portions of revenues used to purchase goods and services from Colorado businesses (supplier sales) and when income earned by workers in airport-supported jobs is spent at Colorado businesses (income re-spending). Total economic impacts add these two components together.
'Since opening thirty years ago this week, DEN's exponential passenger growth and emergence as a central hub in the global aviation market has contributed to it being a multi-billion-dollar economic engine for the Denver metro area, Colorado and the entire Rocky Mountain region. This is something we are incredibly proud of, and it's a responsibility we take seriously,' DIA CEO Phil Washington said in a release.
'We are focused on preparing the airport for the near future, when we anticipate exceeding 100 million annual passengers, and for the next 100 years, as the aviation field evolves,' Washington continued. 'As DEN grows, so too will Colorado's economy, through jobs, revenues, new development and industries created to leverage the connectivity and capabilities of DEN.'
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A 2022 study commissioned by DIA on the economic impact of the airport's 'Vision 100' strategic plan projected all included projects to be complete by 2032 and passenger levels will exceed 100 million annually.
'This near doubling of economic impact from 2021 to 2032 and the separate quantified impact of implementation of the Vision 100 infrastructure program demonstrates the tremendous power of DEN as a regional and statewide economic generator,' the airport said in a release Monday.
Last week, the airport released new details and a timeline for its Great Hall project, which is expected to wrap up in December 2027.
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