On The Radar
A new study from the international consulting group Deloitte finds that advanced air mobility (AAM) could provide New Jersey with a significant opportunity to grow its research and development capabilities. According to the study, the AAM sector is projected to create more than 25,000 jobs and generate $152 million in state tax revenue for New Jersey during the next 15 years.
Deloitte’s study, titled “A Strategic Roadmap for the Development of Advanced Air Mobility,” was commissioned by the National Aerospace Research and Technology Park (NARTP) in Egg Harbor Township, New Jersey. The NARTP works to spur innovation in the aviation and aerospace industries by fostering partnerships between the commercial, academic, and government sectors.
“AAM gives us a once-in-a-generation economic development opportunity with statewide benefits that starts here in Atlantic County,” said NARTP president and CEO Howard Kyle. “It will create technology-based jobs and will help to attract aviation-related companies.”
The study found that New Jersey’s proximity to New York City and Philadelphia makes the state an ideal candidate for the early adoption of AAM services, such as air taxis and short-range cargo delivery flights using electric and hybrid-electric aircraft. In addition to having a convenient geographical location, New Jersey is home to a “unique combination of aviation assets and accelerators” that will help position the region as a leader in the nation’s AAM market, according to the Deloitte study.
“We’ve known for some time that the aviation sector in Atlantic County is ripe for investment, growth, and innovation, and represents a key factor in the diversification of the southern New Jersey economy,” said NARTP chairman Mark Loeben. “This strategy guide now gives the NARTP more leverage, tools, and direction to implement a multiphased approach to enabling AAM in New Jersey.”