Peoria officials are considering the development of an airport complex as a means to drive economic growth in the West Valley suburb. A preliminary analysis conducted by a consulting group has revealed that this proposed 220-acre Peoria airport complex could potentially have an annual economic impact of $1 billion, generate $60 million in state and local tax revenue each year, and create 8,000 jobs. The estimated cost for construction is approximately $150 million.
Similar to Scottsdale Airpark (pictured), Peoria Airpark would primarily cater to light and mid-size business jets as well as general aviation aircraft. It will not accommodate large commercial or cargo planes. According to the study, up to 80 aircraft could be based at the airport initially with plans for expansion up to 217 aircraft within approximately two decades after its completion.
The article “Peoria Eyeing Own Airport” was originally published on Connect CRE.
