ERLANGER, Ky. — The Cincinnati/Northern Kentucky International Airport (CVG) has announced a new annual economic impact of $9.3 billion, marking a $6 billion increase over the last 10 years.
The number comes from a study by the University of Cincinnati Economics Center using 2022 data. CVG's impact was $3.5 billion in 2012 before growing to $4.4 billion in 2015, $6.8 billion in 2018 and $9.3 billion in 2022. Passenger traffic also increased 15.4% over 2022, according to the airport.
"Our mission is to be a catalyst that transforms our region," said Candace McGraw, chief executive officer, CVG. "We are delivering on that mission. I’m extremely proud that we have increased our impact on the community by nearly $6 billion over the last 10 years. What is equally as exciting is that our incredible milestone achievements from 2023 haven’t yet been added to the equation. We remain grateful for the continued support of the community and our stakeholders.”
According to the airport, along with an increase in passenger traffic, some of its other highlights in 2023 included:
- Two new airlines launched service: British Airways and Breeze Airways
- Lowest airfares in the region
- Global cargo ranking moved up five spots from No. 17 to No. 12
- Opening of concessions including Skyline, Frisch's, Braxton Taproom and Wendy's
- Groundbreaking of Epic Flight Academy, an aircraft mechanic school
- Completion of several construction projects
The airport added it also looks forward to the following in 2024:
- Breeze Airways and British Airways will mark their one-year anniversaries in February and May, respectively
- Frontier is scheduled to open crew base in May, having a $27 million impact on the region
- Opening of FEAM Aero's second hangar and Epic Flight Academy
- Additional concessions updates and capital investments, including replacement of jet bridges in Concourse B