PHILADELPHIA (CBS) - The long-planned expansion of Philadelphia International Airport is getting a shot in the arm with an infusion of cash from Washington.
The FAA last January signed off a sweeping expansion plan for Philly International aimed at reducing flight delays. Now the FAA is committing to chip in $466.5 million over the life of the program toward the $6.5 billion dollar price tag.
“It’s a great day for the airport, for the city and the region,” airport CEO Mark Gale says. “It’s going to help us greatly, help us get this project underway.”
Two thirds of the remaining cost will be financed with bond proceeds. The expansion plan involves the construction of a new runway on the south side of the airport where UPS is now located as well as extension of two of the four existing runways. It also includes an automated people mover system, new terminal facilities, a new cargo city and a ground transportation center.
All of this is to be complete in 2025, though individual portions may finished sooner. Some residents and officials in Delaware County oppose the expansion; a portion of the airport is in Tinicum Township.
Reported by Mike Dunn, KYW Newsradio