Established in 1929
Health City Sun
The
www.healthcitysun.com
September 6, 2013
New Mexico’s Legal & Financial Weekly
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Albuquerque Sunport Major Economic Drive for City M
ayor Richard J. Berry released the UNM Bureau of Business and Economic Research (BBER) economic impact report today, siting the Sunport and Double Eagle II Airport as responsible for 20,000 Jobs and $1.9 Billion in Economic Output. The study found that in Fiscal Year 2012, the Albuquerque Airport System was responsible for roughly 2.6 percent of the jobs in NM and accounted for 2.4 percent of the gross state product.
Vol. 3.84 No. 36
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The Health City Sun 2012
“In addition to our airports being a great front porch for visitors, they are also vitally important to our economy,” said Mayor Berry. “Our airports serve as more than just a location to land and depart aircraft, they also fuel economic activity at the local, regional, and state levels via their direct, indirect, and induced impacts.” Being the largest commercial airport in the state and accounting for 98% of the total enplanement of passengers, the Sunport is a vital component of the New Mexico economy and welcomed more that 5.6 million passengers while carrying more than 62,000 tons of cargo in FY12. Double Eagle II located on Albuquerque’s growing west side is approximately 220 general aviation aircraft with approximately 70 thousand annual airfield operations comprised of training, military, air ambulance, charter, private, and corporate flights. “Airport infrastructure can be considered the physical platform of the entire state economy,” said Dr. Doleswar Bhandari, author of the study. “This creates an economic ripple effect by supporting local businesses across the board.” The study shows the Albuquerque Airport System is a vital and significant contributor to the New Mexico economy. It is a key enabler of economic growth, promoting development and tourism by connecting different regions and providing market access for trade and investments. For example, using survey data it was determined that out-of-state visitors in FY12 were 57% of passengers. Of those visitors the highest spenders included tourists at $763 per visitor, business travelers accounting for $479 per visitor and those visiting friends and family spending $398 per visitor; total estimated spending for FY12 for out of state visitors; business travelers at $183 million, tourists $171 million, and visitors visiting friends $171 million. The Albuquerque International Sunport is a world-renowned, full-ser-
vice facility that welcomes nearly six million travelers per year. We are committed to providing a clean, safe and passenger friendly facility that is capable of meeting the current and future travel needs of visitors and New Mexicans alike. The Albuquerque International Sunport is owned by the City of Albuquerque and operated by the Aviation Department. For Sunport information, please visit our web site at www.cabq.gov/airport. - ItsATrip.org
Adjustable Rate Mortgages Quickly Gaining Popularity
A
n increasing number of consumers are beginning to reconsider adjustable rate mortgages (ARMs). For many, it can be the best option when it comes to financing a house.
have their sights set on a larger home to start a family within the next five to 10 years. • Career mobiles who relocate regularly for their work.
With interest rates moving higher, ARMs have burst back on the scene, offering low rates now and the certainty of a fixed rate for as many as 10 years. This is especially enticing to many Americans who don’t anticipate being in their home for longer than a decade. Industry experts suggest there are four groups in particular who should give the mortgage program a serious look: • First-time home buyers who are looking for a starter house for now but
• Empty nesters or those who plan to downsize once their children have moved out of the house in the near future. • Financially savvy consumers who regularly follow the housing market and trends, and know what to look for and when to pull the trigger on a refinance. continued “Mortgages” page 7