Peoria Airpark project could create thousands of jobs

Plans for a new regional airport and employment center in Peoria could generate nearly 8,000 jobs and millions of dollars in revenue for the municipality, according to a study released this month.

A new $150 million general aviation airport surrounded by an industrial corridor is part of Peoria’s plans to expand economic development in the West Valley and push growth farther north across thousands of acres of state trust land.

The project in northern part of the city, drawing inspiration from the Scottsdale Airpark, is expected to have an estimated $1 billion annual economic impact at full buildout and produce $60 million in annual state and city taxes, according to an economic analysis by Rounds Consulting Group Inc.

This is based on the assumption that the project, called Peoria Airpark, will include industrial buildings totaling 1.5 million square feet, nearly 900,000 square feet of office space and about 400,000 square feet of retail.

This could create nearly 5,000 construction jobs, more than 4,000 direct jobs and 3,400 indirect jobs depending on what’s built and the types of companies that would be located at the park.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.