Fredericton Airport Expansion Plans Take Off with Government Funding
FREDERICTON– Plans to upgrade the Fredericton airport took flight on Tuesday with the announcement of $18-million in funding from both the federal and governments.
The Government of Canada, Province of New Brunswick and Fredericton International Airport Authority (FIAA) announced that an agreement has been reached to fund the planned expansion of the Fredericton International Airport (YFC) terminal building.
The provincial and federal governments are investing a combined $18 million in the expansion.
The current terminal exceeded the capacity it was designed to accommodate more than 10 years ago. The upgrade project includes installing additional ticket counters, modernizing the security screening area, creating larger arrival and waiting areas, and updating the terminal’s heating and cooling systems.
Johanne Gallant, president and CEO of the Fredericton International Airport Authority, says this will provide a more efficient and improved travel experience for passengers while allowing the facility to handle an increased number of travellers.
“Our airport’s traffic and service has been growing continuously for over eight years, and we are well beyond the capacity the terminal was designed to handle,” said Fredericton International Airport Authority president and CEO Johanne Gallant, in a release. “This project will create a better airport for our travellers, airlines and staff, and support continued economic growth for our region.”
Regular operations at YFC generate 662 full-time equivalent jobs, $38.8-million in GDP, and $25.8-million in labour income to New Brunswick annually. The airport says the project will create an additional 572 full-time equivalent jobs during the construction phase.
The provincial government will contribute $9-million through the Regional Development Corporation’s Strategic Infrastructure Initiative.
The federal government is investing $9-million through the Provincial-Territorial Infrastructure Component of the New Building Canada Fund for national and regional projects. The Fredericton International Airport Authority is contributing the remainder of the project’s costs which is estimated to be $12 million.
“The Government of Canada is proud to invest in the expansion of one of Atlantic Canada’s key gateways for business and tourism,” said Fredericton MP Matt DeCourcey.
“The Fredericton International Airport brings hundreds of thousands of people to New Brunswick annually. Modern and efficient transportation infrastructure provides greater economic opportunities for Canadian businesses, connecting them to regional and international markets, and provides good jobs for the middle class and those working hard to join it.”
Krista Ross, CEO of the Fredericton Chamber of Commerce, said the expansion will help grow the economy, highlighting the opportunity to expand export-oriented services.
“This airport expansion will be a catalyst for growth in our region,” added Chamber CEO Krista Ross. “Local airports facilitate economic growth in a number of ways for a region focused on the global economy. New Brunswick is already the most export-dependent province in the country and our next major wave of exports will likely be services.
“Success in sectors such as biosciences, information and communications technology, engineering and many others means that the Fredericton Region is creating a hub of expertise that we can bring to the world.”
Design work has been completed, and the project is tender-ready. Construction is expected to begin in summer 2018.