The Economic Impact of YFC in 2023

The Economic Impact of YFC in 2023

Our mission is to contribute to the community’s vitality and economic prosperity by providing a gateway to the world.

By providing sustainable and competitive air travel for the region, the Fredericton International Airport (YFC) also contributes significantly to the New Brunswick economy.

2023 by the numbers:

Air Traffic Controller Shannon Cochrane at her desk in the tower at YFC.

1,385
The total impact of the airport’s operations supported 1,385 jobs in our region, with 887 people directly employed by the activities of the airport community.

1385

A woman holds a mug created by Fredericton artist Maria Guevera while a man and another woman look at a selection of local pottery.

$94.5 million
People visiting our region via YFC brought an estimated $94.5 million into our economy in 2023.

$94.5 million

Two businesspeople sit in the Fredericton International Airport’s departures lounge, working on a tablet while waiting for their flight.

$254.1 million
YFC generated $254.1 million in economic output in 2023.

$254.1 million

Two airport employees look onto the airfield while one points out the window

$9.5 million
In 2023 total personal income tax resulting from airport activity by air was $9.5 million. Additional tax revenue generated included $5.2 million in HST taxes and property taxes of $226 thousand to the City of Fredericton.

$9.5 million

An older couple walks towards a younger woman, with arms outstreatched for a hug.

25%
In 2023, our strategic location in central New Brunswick enabled a 25% increase in passengers compared to the previous year. That growth continued into 2024 with a 13% increase.

25%

Erin Blanchard, General Manager of the Fredericton Convention Center smiles at the camera by the upstairs Convention Center windows.

“Attracting national conventions to Fredericton without Fredericton International Airport would be nearly impossible. It’s not about convenience — YFC is a key component to our decision makers in choosing Fredericton for their national conventions and driving business events."

– Erin Blanchard, General Manager, Fredericton Convention Centre

A headshot of Morgan Peters, Chief Executive Officer of the Fredericton Chamber of Commerce.

“Fredericton plays a big role in our national and global economy and YFC provides an essential service for our rapidly growing business community. Our members are more than 1,000 businesses and not-for-profit organizations and they’re clear—air access is essential for continued growth.”

– Morgan Peters, Chief Executive Officer, Fredericton Chamber of Commerce

A headshot of Morgan Peters, Chief Executive Officer of the Fredericton Chamber of Commerce.
A headshot of Stacey Russell, Manager at Fredericton Tourism and Events for the City of Fredericton.

“Fredericton International Airport is critical to our tourism and hospitality industry. People visiting the Fredericton Capital Region through YFC have brought upwards of $94 million per year to our local economy. That's great news because those funds go towards things we love about our region including our festivals, events, live music, our tap rooms, galleries, farmers markets, and much more that creates a vibrant region and a great place to visit.”

– Stacey Russell, Manager at Fredericton Tourism and Events, City of Fredericton

The outdoor patio at 540 Kitchen and Bar in Fredericton, filled with people enjoying a meal out in the summertime.

“Fredericton International Airport contributes to the sustainability of New Brunswick’s growth by providing efficient access to the global economy. The world economy is increasingly interdependent, and a modern competitive airport is required to ensure success in the global marketplace.”

– Canmac Economics

Data from the 2023 Economic Impact Report, conducted by Canmac Economics Limited and published in 2024.