The Lane Report: CVG Airport announces new economic impact and 2023 end-of-year results
01/10/2024
The Lane Report / January 10, 2024
ERLANGER, Ky. — The Cincinnati/Northern Kentucky International Airport (CVG) is driving $9.3 billion in positive annual economic impact for the airport and the Cincy region. This new number comes from a recent study completed by the University of Cincinnati Economics Center based on 2022 data. In 2012, CVG’s impact was $3.5 billion; in 2015, it was $4.4 billion; in 2018, it was $6.8 billion; and in 2022, it was $9.3 billion.
“Our mission is to be a catalyst that transforms our region. 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 ten years,” said Candace McGraw, chief executive officer of CVG. “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 community’s and our stakeholders’ continued support.”
Milestone successes from 2023:
- Passenger traffic increased. The airport ended the year with a 15.4% passenger increase over 2022.
- Two new airlines launched service with British Airways and Breeze Airways.
- CVG continued to have the lowest airfares in the region.
- CVG’s global cargo ranking moved five spots from No. 17 to No. 12.
- Opening of many new concessions: Skyline, Frisch’s, Braxton Taproom, Wendy’s
- Groundbreaking of Epic Flight Academy
- Completion of several construction projects