EXPANSION OF AVIATION-RELATED INDUSTRIAL PARK
by Scott A. Sumner
Ontario is supporting the Thunder Bay International Airports Authority Inc. through the Northern Ontario Heritage Fund Corporation (NOHFC).
NOHFC has approved funding in the amount of $1 million, to allow Thunder Bay International Airport to build an extension to the aviation-related industrial park at the Thunder Bay International Airport Authority (TBIAA). This project will accommodate new tenants and allow for the continued growth of the aviation sector in Thunder Bay.
Once businesses establish themselves in the expanded industrial park, it is estimated that (within 10 years) up to 270 full-time equivalent permanent positions will be created – many of which are forecast to be high-paying professional positions.
QUOTES
“We recognize the important economic development role the Thunder Bay International Airport Authority plays in Thunder Bay and Northwestern Ontario. Our economy in Thunder Bay continues to be one of the best in Ontario, and any further growth at TBIAA accommodated by this announcement will help continue the trend! I look forward to a continued partnership with CEO Scott McFadden in the interests of Thunder Bay and Northwestern Ontario.”
– Bill Mauro, MPP Thunder Bay-Atikokan
“The Airport and air transportation sector in Thunder Bay is responsible for half a billion dollars annually in economic activity, and over 5000 jobs. We’re very pleased that the provincial government has agreed to help the TBIAA with its next phase of commercial real estate expansion. The developed lots will be included in the Airport Community Improvement Zone, meaning that aviation-related companies will join others at the Airport that have already taken advantage of additional development incentives made possible several years ago by Bill Mauro. On behalf of the TBIAA I would like to thank Provincial Government, and in particular Bill Mauro, for his ongoing support of the Thunder Bay international Airport.”
– Scott McFadden, President & Chief Executive Officer, Thunder Bay International Airports Authority Inc. (TBIAA)
“Through the Northern Ontario Heritage Fund Corporation, our government is providing financial assistance to the private sector to help bring new jobs and economic prosperity to the North.”
– Rick Bartolucci, Minister of Northern Development and Mines and Chair of the Northern Ontario Heritage Fund Corporation (NOHFC)
QUICK FACTS
Thunder Bay International Airport Authority (TBIAA) is a federally incorporated not-for-profit corporation operating the Thunder Bay International Airport (YQT)
A nine-member Board of community stakeholders have articulated regional economic growth as a key objective that governs the TBIAA
The TBIAA markets Thunder Bay’s competitive advantages to international aerospace companies and also seeks local opportunities to assist local companies in growing YQT
NOHFC’s Infrastructure and Community Development Program (ICDP) helps northern communities make the investments necessary to improve critical infrastructure and develop partnerships that find effective ways to create jobs and improve economic prospects in the North.
Bill Mauro, MPP Thunder Bay Atikokan “ Today we announced $1 million from the Northern Ontario Heritage Fund to the Thunder Bay International Airport Authority which is going to help them expand the industrial park on the property. It will help attract more aerospace industry to Thunder Bay and NW Ontario. “ “ The airport already is a significant economic driver in this region and will continues with this growth. They have already e run out of larger lots so this is very timely now and will create 8 to 10 lots and up to 270 jobs over a ten year period. In 2006 we created the community economic plan which allows the City of Thunder Bay to provide tax incentives to aerospace companies that locate here. It makes it a little easier to attract companies. The Thunder Bay airport creates $500 million in economic activity and 5000 jobs which is a large part of our economy. They are a major player in the local economy.”
Scott McFadden, CEO of the Thunder Bay International Airport Authority. “ The project will expand the taxi way and road to the lots. Growth has been slow but sure and steady. The demand is coming from mostly existing companies but also from companies doing business in the mining sector. ”
Ed Schmidke ,Manager of Business Development, Thunder Bay International Airport Authority. “ The economic impact of 1 Metroliner aircraft from Bearskin or Beech 1900 aircraft from Wasaya that have 19 seat capacity is generating 33 full time jobs, $1.5 million in labour income and $3 3/4 million in economic activity or GDP. There is support from gate agents, refueling, mechanics and support staff.” “ The new Chicago route will offer 375 connecting destinations from there so will really help the Thunder Bay traveler reach their US destination quickly.”
