Airports generally aren't situated atop deposits of minerals, gas or other resources that can readily be turned into cash. And taking passengers' gold and silver fillings is probably out of the question. There are, however, ways to mine airports' other hidden assets.

Rogue Valley International – Medford Airport in southwestern Oregon recently had a clever idea to do just that. The four-carrier non-hub facility wanted to sell advertising space on its control tower. But, alas, the idea was shot down by its city council over concerns about being "tacky."

Advertising on boarding bridges has been sold at airports for years. It's a shame Rogue Valley Int'l wasn't able to use its tower to generate revenue. With AIP funds in short supply, what could be better than an airport generating money simply by virtue of its landscape?

Fortunately for those without airfield oil wells pumping away 24/7, the land in and around airports is quite valuable. More businesses and investors are willing to pay a premium for it these days, and this issue has a few examples to share.

This month, we bring you a fueling story from Memphis, where the airport, FedEx and a third party came together to install an updated fuel farm and piping system that benefits FedEx, the airlines and the airport. The best part is that the airport received private

investment dollars needed to fuel the growth.

Perimeter airport property can be quite lucrative as well. In our landside development story, we present two examples from the Transportation Research Board's Guidebook for Developing and Leasing Airport Property. Case studies from Anchorage and Pittsburgh provide two innovative but vastly different examples of maximizing the resource – and revenue – of airport assets.

It just goes to show: There is inherent value lying in wait at all of our airports.

Cheers, Paul