Mike Landguth

Chattanooga Metropolitan Airport generates more than $166 million in annual economic impact, a first-of-its-kind report says.

The figure could climb in the future as gasoline spikes toward $4 per gallon and travelers fly from Chattanooga more often rather than drive to other airports, officials said Monday.

“As much leakage as we have to other cities, $4 a gallon gas may have an impact to the importance of the airport on economic activity,” Airport Authority Vice Chairman Jim Hall said.

The study by the Community Research Council and commissioned by the Airport Authority for $24,900 showed Lovell Field spurs 1,400 jobs each year.

David Eichenthal, CRC president, said the recent growth in flights and passengers has boosted the airport’s role in the local economy.

But he said while the airport is a key, it’s not “a silver bullet” as a catalyst for economic growth.

After speaking with officials at several companies that have recently relocated to or expanded in Chattanooga, he found the airport ranked no more than 10th among 15 reasons cited, Mr. Eichenthal said.

Still, the study led by University of Tennessee at Chattanooga public administration associate professor William Tharp showed “a strong signal” the airport is important in supporting economic development officials, Mr. Landguth said.

“We’re working with them,” he said.

The study said travelers flying from Chattanooga rather than elsewhere save money. The average savings is $126 in travel and $91 in time and productivity, it said.

With over 254,000 boardings in 2006, the total saved was $55 million, according to the airport. This amount is not included in the $166 million economic impact figure, Mr. Eichenthal said.

BY THE NUMBERS

AIRPORT ECONOMIC PUNCH

* Operations — $129 million

* Visitors — $32.5 million

* General aviation — $4.5 million