Yorkton Economic Impact Study
Conducted by the Good Spirit REDA and Yorkton Airport
Works Cited:
Click here to view the original site where the study is located
METHODOLOGY
This study has been undertaken to measure the total contribution made by
Yorkton Municipal Airport to the regional economy. To calculate the total
economic impact of an airport economists measure three types of impacts:
direct, indirect, and induced. The sum of the direct, indirect and induced impact
equals the total economic impact of the airport.
. The direct economic impact refers to the employment and revenues
attributable to the commercial activities which take place directly at
the airport.
. Indirect economic impact measures the purchase of goods and services
by airport businesses from other firms, in terms of the employment
and revenues related to the incremental business activities resulting
from their operations in support of airport operations.
. The induced economic impact estimates the increase in employment
resulting from direct and indirect airport activities. The jobs sustained
by the direct and indirect airport activity generate an increase in
household income. This drives the induced economic impact that results
from an increase in purchases at local businesses.
The traditional approach to estimating the economic impact of an airport
involves in-depth interviews and detailed review and financial analysis of the
operations of the businesses which operate at the airport. An alternative
method, which has been used here, is the statistical approach.
For this analysis, the economic impact of Yorkton Airport has been estimated
using a model originally formulated by the Transport Institute of the University
of Manitoba. The model consists of two econometric formulas and was
developed by applying regression analysis to the results of more than forty
detailed economic impact studies performed at Canadian airports. It has been
used extensively to calculate the economic impact of airports across Canada,
and when compared to the results obtained using a survey methodology, the
model was found to produce fair and reasonable estimates of an airport's impact
on the provincial economy.
The outputs of the model are estimates of the total revenues, or economic
output, and employment generated throughout the province by the commercial
activity conducted by the airport operator, its tenants and others at the airport.
These estimates represent the sum of the direct, indirect and induced
employment and revenue generated by airport activities
LOCATION:
The largest municipality on the Yellowhead Highway between Winnipeg and
Saskatoon, the City of Yorkton is the economic centre of east-central
Saskatchewan.
Yorkton is strategically located at the junction of the Trans Canada Yellowhead
Highway, Highway 9 to points north, and Highway 10 to Manitoba. Just 190
kilometres northeast of Regina and 326 kilometres southeast of Saskatoon,
the city is also served by the Great Western Railway (operated by Canadian
Pacific Railway) and Canadian National Railway.
POPULATION
The population of the City of Yorkton has experienced gradual but steady growth
throughout its history, and increased by a total of 4.2% (an average of 0.35%
per year) between 1990 and 2002. The increased rate of growth over recent
years is primarily attributed to the trend towards urbanization in Saskatchewan.
The trading area for Yorkton includes all communities within a 150 kilometre
radius, reaching a total catchment area population of 111,000.
INDUSTRY AND LABOUR FORCE
Agriculture, grain production, purebred beef cattle ranching, and potash mining
have historically been important to the economy in the region. Outdoor
recreational areas including hundreds of miles of groomed snowmobile trails,
together with the region's museums and historically significant sites also
assist in attracting visitors to the area. In recent years, the tourism industry
has experienced a faster rate of growth, drawing hunting and fishing
enthusiasts from Canada and the US and helping to diversify and strengthen
the local economy.
. Retail trade and Healthcare and Social Assistance are the leading
employers in the Yorkton area, representing more than 18.% of the
city's workforce.
. In 1997, an independent study conducted on behalf of the Provincial
Action Committee on the Economy (PACE) found that, of 12 cities
studied across Canada and the United States, Yorkton had the most
competitive business costs.
. Annual retail sales in Yorkton have more than doubled since 1995, and
currently exceed $234 million.
. Yorkton's 500 plus modern hotel rooms, the Parkland Agriplex and 1,000
seat convention centre provide capacity for major events and
conferences such as the 1999 Royal Bank Cup and the 2000
Saskatchewan Summer Games.
Top Ten
1 Retail Trade 1,335
2 Healthcare and Social Assistance 1,155
3 Accommodation and Food Services 745
4 Manufacturing 610
5 Educational Services 445
6 Transportation and Warehousing 425
7 Construction 420
8 Agriculture, Forestry, Fishing and Hunting 395
9 Public Administration 355
10 Wholesale Trade 345
POPULATION
1990 16,339
1995 16,066
2000 16,565
2001 17,032