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AIRPORT MASTER PLAN <br /> <br />However, it is important to note that aviation demand can fluctuate substantially <br />over a 20-year period as the industry and economic condition are fluid and <br />constantly changing. As a result, the activity levels identified for a particular forecast <br />year may occur earlier or later in the 20-year planning horizon. Since actual <br />changes in aeronautical activity levels should be the key driver behind making <br />future airport capital improvement decisions, the forecasting years identified <br />earlier have each been designated as a Planning Activity Level (PAL) as shown <br />below: <br /> PAL 1 2019 PAL 4 2034 <br /> PAL 2 2024 PAL 5 2039 <br /> PAL 3 2029 <br />The actual realization of the activity levels identified within each of these Planning <br />Activity Levels should be used to guide future development as opposed to the <br />forecasted years those activity levels are expected to occur. To perpetuate this <br />approach, the identified PALs will be used in future chapters when discussing <br />development decisions. <br />S OCIOECONOMIC D ATA <br />An assessment of national, state, and regional economic conditions must be <br />conducted to gain a better understanding of the relationship between historic and <br />. This information <br />is essential and directly influences an airport. Therefore, the <br />following socioeconomic information population, employment, and median family <br />income has been collected to understand current economic conditions and <br />influence assumptions that should be involved in the development of the aviation <br />demand forecasts for the San Marcos Regional Airport. <br />For the analysis of socioeconomic information, information was reviewed for the <br />following areas: <br /> Key Socioeconomic Influence Areas <br />o Hays and Caldwell Counties (combined) <br />o Austin-Round Rock Metropolitan Statistical Area (MSA) <br />o San Antonio-New Braunfels Metropolitan Statistical Area (MSA) <br /> <br />Activity Forecasts Chapter Page 2of 36 <br />October 2020 <br /> <br />