LAX project will create 39,900 jobs, report says
The modernization projects under construction at Los Angeles International Airport will generate about $6.9 billion in economic activity and create 39,900 jobs in the region during the next several years, a new study shows.
L.A. County Economic Development Corp.’s 47-page report says the $4.1-billion undertaking will help the construction industry and provide economic benefits to insurance, finance, manufacturing, real estate and retail businesses.
Researchers said new jobs will pay an estimated $2.9 billion in wages in the years ahead and provide about 24,570 construction-related jobs over the next few years. The building trades lost about 56,000 jobs due to the economic recession. The county’s unemployment rate was 12.3% in March.
-- Dan Weikel
Photo: Construction on LAX's Bradley West terminal project is photographed in February. Credit: Liz O. Baylen / Los Angeles Times.