The US Department of Transportation has revealed that the Federal Aviation Administration (FAA) will award $677m in airport infrastructure grants as part of its $3.2bn Airport Improvement Program (AIP) funding destined for airports across the country.
The money will be split between 241 grants for the funding of 346 infrastructure projects, including runways, taxiways, aprons and terminals.
According to the latest FAA figures, the US civil aviation contributes approximately $1.6tn a year to the country’s economy and supports nearly 11 million jobs. There are a total of 3,323 airports and 5,000 paved runways across the US.
Department of Transportation Secretary Elaine L. Chao said: “If you want a strong transportation system, you have to invest in airport infrastructure. Airports are the backbone of aviation. These communities are going to reap greater safety, efficiency, and economic dividends for years to come.”
The Department of Transportation said airports can only get a certain amount of funding from the AIP per year according to their activity levels and project needs. However, if the latter exceeds their available entitlement funds, the FAA will supplement their entitlements with discretionary funding.
Salt Lake City International Airport will receive the highest level of funding, with a total of $16.3m to be spent on repairing the apron area at the airport. Denver International Airport will obtain $14.2m from the AIP, and plans to invest its grant into the renovation of its runways, taxiways and associated lighting.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAnother airport to benefit is King Salmon Airport in Alaska, which will receive $12.8m for repairs on its runway and taxiway. The Department of Transportation said this project will be particularly important to the local community, who heavily rely on air transportation to move people, goods and services.