Blountville, TN. – The Tri-Cities Airport Authority (TCAA) has been awarded a $4.1 million grant from the Tennessee Department of Transportation’s (TDOT) Aeronautics Economic Development Fund to further the development of its Aerospace Park.
The purpose of the Fund is to advance job creation and investment opportunities in aerospace industry, which helps Tennessee’s airports continue to be important economic development engines for their regions and the state.
“The Aerospace Park is an important economic development project for our region, and we greatly appreciate the commitment Governor Haslam and TDOT Commissioner Schroer have made to its success through the award of this grant,” said Jon Smith, TCAA chairman.
When combined with local funding, the $4.1 million grant will allow a significant amount of site development work to be completed, making the Aerospace Park more attractive to aerospace industry prospects. TCAA will use $8.5 million of funding provided by the city and county regional partnership, the $4.1 million grant from TDOT and a $350,000 grant from TVA for the next phase of the development. TCAA will immediately begin the engineering work on the next phase of the Aerospace Park with site construction to start as early as September.
According to TCAA Executive Director Patrick Wilson, the city and county funding partnership has generated a great return on investment for the regional economic development infrastructure.
“The regional cooperation demonstrated by Bristol, TN, Johnson City, Kingsport, Sullivan County and Washington County helped set the Aerospace Park initiative apart from other projects,” said Wilson. “This regional partnership made it possible to attract such a large grant from TDOT.”
“For the Aerospace Park to receive the largest award from the Fund this award cycle is a great outcome,” said TCAA chairman Smith. “This is a major step forward in developing a world-class site that will attract high-quality jobs and private sector investment.”
Smith added the grant award would not have been possible without the support of the entire Northeast Tennessee delegation of the Tennessee General Assembly.
Tri-Cities Airport (TRI) is a full-service commercial airport serving Northeast Tennessee, Southwest Virginia, Western North Carolina, and Eastern Kentucky. TRI offers non-stop flights to four hubs (Atlanta, Charlotte, Orland/Sanford, and St. Pete/Clearwater/Tampa) on Allegiant, American, and Delta. For more information about Tri-Cities Airport, visit TRIflight.com.
Aerospace Park is a direct-airfield development at Tri-Cities Airport in Northeast Tennessee. The site offers 21 acres certified for immediate development and an additional 140 acres under development.