An agreement has been reached between the Government of Canada, Province of New Brunswick and Fredericton International Airport Authority (FIAA) to fund the planned expansion of the Fredericton International Airport (YFC) terminal building.
As a not-for-profit organization, all revenues generated by the airport authority are reinvested into the airport. This means it is to fund 40% of the project. Regular operations at YFC generate 662 full time equivalent jobs, C$38.8m (US$30.4m) in GDP, and C$25.8m (US$20.2m) in labor income to New Brunswick annually.
The terminal expansion and renovation will enable the airport to continue to increase traffic, economic impact, and generate an additional 572 full-time jobs during the construction phase.
The current terminal exceeded the capacity it was designed to accommodate more than 10 years ago, during which time passenger traffic has increased by 33%.
The expansion will increase the size of the terminal by 50%, with improvements including more efficient traffic flow for passengers checking in for flights, additional space to accommodate more travelers, enhanced energy efficiency, covered walkways for aircraft boarding, and modernizing the comfort and appearance of the airport.
Johanne Gallant, president and CEO at Fredericton International Airport Authority (FIAA), said, “This project is critical, and we are grateful that all levels of government recognize the importance of the airport to our region’s economy.
“Our airport is the first impression travelers, investors and dignitaries have of our city, and the last chance to reinforce the positive impression we know our capital region makes on visitors.
“This design reflects the importance of the Fredericton International Airport in welcoming travellers to our city and our province.”
Design work has been completed, and the project is tender-ready. Construction is expected to begin in summer 2018.