This Charlotte asset is worth $37 billion to state economy, study finds

Charlotte Business Journal January 3rd, 2026

Charlotte Douglas International Airport generated $36.6 billion worth of economic activity in 2023, accounting for 42% of all aviation-related output across the state, according to a new study.

The N.C. Department of Transportation’s Division of Aviation published the findings on Friday. 

The state conducts the study, “North Carolina: The State of Aviation,” every two years. The Wright brothers invented aviation in the Outer Banks of North Carolina in 1903.

CLT’s economic output grew 14% from $32 billion from the previous statewide survey of airports and aviation.

N.C. State University’s Institute for Transportation Research and Education analyzed job creation, spending, cargo, aerospace and commercial and private aviation data on behalf of the state. The figures track activity at North Carolina’s 72 publicly owned airports, including 10 commercial airports and 62 general aviation airports mainly used for private flights and aircraft.

According to the study, in 2023 Charlotte Douglas, the state’s largest airport and one of the nation’s 10 busiest, accounted for:

•167,045 jobs

•$15.2 billion in personal income

•$2 billion in state and local taxes

CLT is home to American Airlines Group Inc.’s (NASDAQ: AAL) second largest hub. In 2023, the airport set a record with 53 million passengers, breaking the previous mark set in 2019. 

Airport executives last year projected 60 million passengers for CLT in 2024. Full-year results are expected to be available next month.

On Friday, the airport provided statements to CBJ regarding the state study, including an ongoing, independent study to assess CLT’s economic impact, including South Carolina.

The NCDOT study focuses solely on activity within the state. At CLT, that leaves out significant investment and spending since the airport sits near the state line.

“CLT’s significance as a major economic engine for the Charlotte region and North Carolina is undeniable,” airport CEO Haley Gentry said in a statement. 

She added, “The strength of our American Airlines hub plays a crucial role in driving economic growth, not only within North Carolina but also across the broader region. We are eager to complete a comprehensive study that will highlight the far-reaching impacts, including those from South Carolina, further reinforcing CLT’s vital contribution to the aviation system and regional prosperity.”

In 2023, the NCDOT analysis determined that CLT added $32 billion to the state’s economy in 2021, an increase of 7% over the $25 billion estimate two years earlier.

Charlotte Douglas had the largest economic output among airports in North Carolina, followed by Raleigh-Durham International Airport with $24.13 billion and Piedmont Triad International Airport at $9.9 billion. All figures are for calendar year 2023.

Concord-Padgett Regional Airport in Cabarrus County produced $1.1 billion worth of activity in 2023, including 5,310 jobs, $474 million in personal income and $66.8 million in local and state taxes, according to the NCDOT report.

Calculations are based on statistics including airport-based jobs and income, spending by tenants such as airlines and rental car companies, airport construction, maintenance and operations and visitor impact and spending.

Overall, North Carolina airports created $88 billion worth of spending and output in 2023, NCDOT’s study determined. The total impact encompasses 427,000 jobs, $34 billion in personal income and $4.8 billion in state and local tax revenue.

“North Carolina’s aviation industry is not only a cornerstone of our economy, but also a key driver of innovation,” Nick Short, interim director of the NCDOT Division of Aviation, said in a statement. “This report highlights the critical role our airports play in fostering economic growth, supporting new technologies and positioning the state as a leader in the future of aviation.”

The report points to other benefits from aviation, including workforce development and property tax revenue generated from aircraft. 

There are 4,000 aircraft in North Carolina, adding $6.8 million in tax revenue, according to the study. In one example, the study equates property tax revenue from a $15 million plane at Hickory Regional Airport to 60 homes — with much lower infrastructure costs.

Commercial airports produced $80.9 billion of the $88 billion in 2023 aviation-related output, the study found. The remaining $7.1 billion came from general aviation airports relying on private planes.  

Area airports in the latter category include Mid-Carolina Regional in Salisbury ($142.2 million), Charlotte-Monroe Executive in Monroe ($90 million) and Hickory Regional ($66.1 million).

CLT is in the latter stages of a $4 billion series of improvements and additions, scheduled to wrap up in 2027. A $600 million makeover of the main terminal lobby is anticipated to be finished by the end of this year.