Los Angeles International Airport is boosting Southern California’s economic output as its long-term renovations continue, according to a new impact report released Thursday by the Los Angeles County Economic Development Corp.

The airport generated nearly 621,000 jobs in the county with labor income of $37.3 billion and economic output of $126.6 billion, according to the report, which analyzed operations at LAX during 2014.

Those jobs generated more than $37 billion in labor income, roughly $127 billion in business revenue, $6.2 billion in state and local taxes, as well as $8.7 billion in federal tax revenues.

The ongoing LAX Modernization Program, which is set to be completed in 2023, is responsible for an additional 122,000 jobs every year, the report said. Those are responsible for labor income of $7.6 billion, $20.3 billion in business revenue, $966 million in state and local taxes, and $8.7 billion in federal tax revenue.

“LAX is powering an economic resurgence across our city, and we are investing billions to make it even stronger,” said Mayor Eric Garcetti, in a statement.

Los Angeles World Airports is expected to spend $14 billion on LAX-related renovation projects between 2008 and 2023.