Red Deer Airport Expansion Project
- To enable expansion of the runway at the Red Deer Airport (YQF), which will allow larger aircraft to land, ultimately helping to diversify the economy and create long term economic growth.
- This is a partnership between the Province of Alberta, The City of Red Deer and Red Deer County.
- The Red Deer Airport generated over 51,000 aircraft movements in 2014, supporting 225 jobs and contributing $100 million into the regional economy.
- Approximately 25,800 passengers used the airport in 2014, up from 1,468 in 2012.
- One 737 landing daily will generate $600,000 in annual revenue
Expansion of the Red Deer Airport is critical to keep up with growth pressures and leverage future economic opportunities in Red Deer.
Funding for the airport expansion will support core infrastructure improvements needed at the airport, including a runway extension that will allow larger aircraft to land. The improvements are part of a 20 year capital investment program which translates to not only potential for increased passengers, revenues and economic development, but also opportunities to generate local employment.
Construction is expected to start in 2016. The project is scheduled to be finished in time for Red Deer to host the 2019 Canada Winter Games, which are expected to attract more than 20,000 visitors and generate approximately $125 million for the local economy.
Budget Requirements and Council Decision Points
In the 2016 capital budget, there are no decision points for Council to consider. All City funding was prior approved by Council.
The project is expected to cost $9.5 million with funding provided by The City of Red Deer and County of Red Deer who will each contribute $1.75 million and the provincial government contributing $6 million over three years. City Council approved the $1.75 million grant as part of the 2015 capital budget process.
The City of Red Deer will provide the necessary bridge funding.
The City of Red Deer’s $1.75 million contribution is funded by the 2015 Capital Project Reserve.