The Fredericton International Airport’s call for an investment of federal funds could be answered now that National Airport System’s (NAS) airports are included in a multi-billion dollar fund.
Federal Transportation and Infrastructure Minister Marc Garneau made the announcement on Tuesday.
The National Trade Corridors Fund is a $2.1 billion dollar collection that will dole out investment cash over the next eleven years.
26 Canadian airports make up the NAS, with all being strategically important to the national travel system.
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Fredericton was previously unable to receive capital project funding as the airport only qualified for the Airport capital Assiatance Program – available to those with fewer than 525,000 passengers annually.
The new fund, and Fredericton’s eligibility for it, could open the door for the investment needed to expand the aging terminal.
“It’s very positive,” said Johanne Gallant, the airport’s president. “Finally there’s some programs out there that would give us access to funding.”
The Fredericton Chamber of Commerce has been pushing for an airport expansion as the facility has seen a rise in ridership in each of the past eight years.
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They say that a large scale and more efficient airport will drive the region’s economy.
“If you want to operate and locate a business in a certain area you have to be able to access that area, you have to be able to get in and out,” explained Krista Ross, CEO of the Fredericton Chamber of Commerce. “We see the airport as something that would draw business to come here.”
“The door has been opened for progress to happen,” she said.
Fredericton Airport officials say it’s still too early to speculate on what will ultimately happen but they’re eager to learn more and expect to start the application process soon.
“This week we’re going to find out a little bit more about the details of the programs,” said Gallant.