Another Airport Funding Milestone!
The Provo Airport expansion project has now reached another significant milestone! The recently announced $9M Federal Aviation Administration (FAA) infrastructure grant brings the total to date from all governmental sources to approximately $47M.
Anticipated costs include $40M for the terminal and apron expansion with additional costs for parking, utility extension and road connections. The latest federal allotment from the Federal Aviation Administration is $9M designated for terminal expansion. City funding includes utility and road improvements, grant matches and internal projects for cost savings.
Of the 439 grants given nationally, the Provo Airport was #9 and was the only regional airport in the top ten. Provo is destined to be the second busiest commercial airport in the State upon completion. The cumulative governmental funding commitment shows not only the airport’s economic potential, regionally and statewide, but also our geographic ability to partner with the Salt Lake International Airport and other airports in the region to foster growth in commercial air service in the future.
To date, the Provo Airport has been awarded $23M from the FAA in infrastructure grants, with the latest $9M coming from the recently announced $1.187B in airport safety and infrastructure grants. According to U.S. Transportation Secretary Elaine Chao, the total includes $731M in Airport Improvement Program grants and an additional $45M in Supplemental Discretionary grants. The money will be available for 100 percent of the eligible costs under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. An industry report on these grants can be found athttps://www.flyingmag.com/story/news/dot-billion-in-airport-infrastructure-grants/?utm_source=internal&utm_medium=email
Additional funding for the project is slated to come in the form of state and federal transportation funding, private funding, county tourism funding, and utility and parking expansion costs funded by the City.
In addition to being on-target with our funding efforts, the Provo Airport is on-schedule for our anticipated opening in Spring 2022. Current construction includes vital dirt compaction work to ensure the ground is properly prepped for the project moving forward. This process can take up to nine months and is carefully and regularly monitored.