The project includes an additional parking lot, equipped with 175 stalls, a renovation to the older parking lot, as well as the creation of three new bus lanes.
“The parking has been an issue and it’s been wonderful to be able to create this partnership, and get the funding for further parking improvements,” Mayor Lori Ackerman said. “We look forward to seeing what’s finished up out here. I believe it will be well received by those who have parked here for years.”
In 2013, passenger traffic increased by 30 per cent, and the trust expected the number of passengers to exceed 200,000 in 2014.
This is said to be in part due to the increased economic activity in the region, mostly related to the oil and gas sector.
The trust expects the project to potentially generate $2.9 million in additional airport revenue in five years, and create up to four direct full-time positions and 10 temporary construction jobs.
“The growing economy in the North Peace is continuing to place pressure on the North Peace Airport,” CEO of the Northern Development Initiative Trust, Janine North said. “This grant will not only support necessary upgrades to the airport, but also create new jobs and generate new revenue for the local economy.
Northern Development has approved $500,000 in funding for North Peace Airport projects over the past two years.
The North Peace Airport Society will contribute the remaining funds necessary to complete the project, a total cost of $2.1 million.
A terminal expansion is the next upgrade that the trust expects to be approached about in the near future.