Investors - JULY 20, 2017

U.S. Department of Transportation to give $291m in infrastructure grants to 105 airports

by Jody Barhanovich

The U.S. Department of Transportation has announced the Federal Aviation Administration will award $290.6 million in airport infrastructure grants to 105 airports in 38 states across the United States as part of the FAA’s Airport Improvement Program.

The airport grant program funds various types of airport infrastructure projects, including runways, taxiways, and airport signage, lighting, and markings which help to create thousands of jobs.

“AIP grants will allow airports to complete critical airport infrastructure projects that will help maintain the safety of the nation’s airports,” said Michael Huerta, FAA administrator.

Airports are entitled to a certain amount of AIP funding each year, based on passenger volume. If their capital project needs exceed their available entitlement funds, then the FAA can supplement their entitlements with discretionary funding.  At this time, the FAA is providing discretionary funding to 26 airports based on their high-priority project needs.

Some of the airports receiving discretionary grants include, Ted Stevens Anchorage International Airport in Anchorage, Alaska ($8.2 million); San Diego International Airport in San Diego ($16.7 million); and Orlando International Airport in Orlando ($16 million).

The FAA will issue AIP grants to the airports over the next several weeks in time to take advantage of the spring and summer construction season. The grants will ensure the projects at these airports are either under construction or completed prior to the onset of the winter season, which comes in late fall in some parts of the country.


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