To ensure safe, secure, and efficient advanced air mobility (AAM) operations, an AAM surveillance network is needed to detect and track AAM traffic. Additionally, a cloud-based surveillance data collection, monitoring, and distribution center is needed, where AAM operators and service suppliers, law enforcement agencies, correctional facilities, and municipalities can subscribe to receiving relevant AAM traffic data to plan and monitor AAM operations. In this work, we developed an optimization model to design a surveillance sensor network for AAM that minimizes the total sensor cost while providing full coverage in the desired region of operation, considering terrain types of that region, terrain-based sensor detection probabilities, and meeting the minimum detection probability requirement. Moreover, we present a framework for the low altitude surveillance information clearinghouse (LASIC), connected to the optimized AAM surveillance network for receiving live surveillance feed. Additionally, we conducted a cost–benefit analysis of the AAM surveillance network and LASIC to justify an investment in it. We examine six potential types of AAM sensors and homogeneous and heterogeneous network types. Our analysis reveals the sensor types that are the most profitable options for detecting cooperative and non-cooperative aircraft. According to the findings, heterogeneous networks are more cost-effective than homogeneous sensor networks. Based on the sensitivity analysis, changes in parameters such as subscription fees, the number of subscribers, sensor detection probabilities, and the minimum required detection probability significantly impact the surveillance network design and cost–benefit analysis.