August 23, 2013
Trust board of directors backs major investment in Fort St. John airport infrastructure
Fort St. John, B.C. – Northern Development Initiative Trust’s board of directors have approved a $250,000 grant to support significant parking lot upgrades at the North Peace Regional Airport. Higher demand at the airport in recent months, as well as the start of WestJet flights in the area, has pushed the parking lot beyond its current capacity.
The improvements will add 200 stalls to the parking lot, of which 100 will be earmarked for car rental capacity. The project will also relocate the snow storage area and implement a new pay parking system. The upgrades are part of a $4.8 million two-phase airport improvement project that also includes water and sewer upgrades. The Trust’s $250,000 contribution to the project will help pay for parking lot improvements only.
The Northern Development portion of the funding was approved under the Trust’s Economic Diversification Infrastructure program, which provides funding to municipalities, regional districts, First Nations and non-profit organizations in Northern Development’s service area for projects that significantly strengthen the local economy via a major capital investment. Past Economic Diversification Infrastructure funding projects the Trust has supported have included a fuel station for Barkerville and Wells, the Terrace Sportsplex and Conference Facility and the Prince George Airport’s runway expansion.
It’s expected that the airport parking lot upgrades will result in a substantial increase in revenue for the airport during the next 20 years, which will help it meet passenger and commercial traffic demands and remain financially sustainable.
The North Peace Airport Society, Canadian Imperial Bank of Commerce and Western Economic Diversification have also made financial contributions to support the completion of the two-phase airport improvement project.
“The North Peace airport is getting busier by the day as the communities around it continue to grow. This funding commitment from Northern Development will support parking improvements that will substantially increase revenue for the airport in the next two decades, which will help support the airport’s future expected growth,” said Evan Saugstad, Chair, Northern Development Initiative Trust.
“The Northern Development Initiative Trust is to be commended for their ongoing support and insight into the growth of the B.C. Peace region,” said Karen Goodings, Chair, Peace River Regional District. “This funding commitment helps to support the needs of YXJ in their airport expansion.”
“This funding commitment from Northern Development is greatly appreciated, and will help the North Peace Airport generate new revenue that will help it meet the opportunities of the future,” said Fred Jarvis, Chair, North Peace Airport Society and Mayor of the District of Taylor.
Northern Development Initiative Trust
About Northern Development
Northern Development Initiative Trust is an independent regional economic development corporation focused on stimulating economic growth and job creation in central and northern British Columbia.
To date, $115 million in funding has been committed to 1,239 projects in communities throughout central and northern British Columbia.
For information on Northern Development and the community economic development projects being led in communities throughout northern B.C., visit: http://www.northerndevelopment.bc.ca