Fredericton Chamber of Commerce Praises Investment Fund for Airport Expansion
FREDERICTON – The Fredericton Chamber of Commerce says the new National Trade Corridors Fund worth $2.1-billion, announced Tuesday by Transportation Minister Marc Garneau, will help the Fredericton International Airport undertake a $30-million expansion.
“This announcement clears the path for the Fredericton International Airport to receive much-needed federal funding for their long-planned expansion,” said Chamber CEO Krista Ross in a press release. “We think the case for funding for the Fredericton airport is clear – the airport is currently operating at 85 per cent over capacity for which it was designed and has grown passenger numbers for eight consecutive years.”
The Fredericton airport is one of 26 in the national airport system (NAS), which have been identified as being strategically important to the country’s air travel system. But NAS airports are excluded from the Airports Capital Assistance Program (ACAP) funding, which helps airports with fewer than 525,000 annual passengers with capital project funding.
The airport has a $30-million plan for airport expansion that’s awaiting the necessary funding. The airport currently supports 586 jobs and transported 377,997 passengers last year. It projects passenger traffic to climb to 500,000 by 2030 and jobs to nearly double to 1012.