Officials with Lexington Bluegrass Airport recently presented multiple future projects including expansion of airport roadways and parking, relocation of an air traffic control tower, and expansion of the existing terminal.
Eric Frankl, Executive Director of Lexington Bluegrass Airport, said the expansion will be good for Kentucky.
“We think there’s opportunities for us to generate, bring more money into the state. Every time we have a matching grant, we can match 10%. We can get 90% of federal government to match that grant. We think that obviously benefits, in my case, central Kentucky, but it also benefits the commonwealth overall,” said Frankl.
Lexington Bluegrass airport’s economic impact on the Commonwealth includes nearly 5,000 jobs, $180 million in annual payroll, and $709 million in annual economic output. The airport has experienced a 2% growth in passengers annually, which is expected to continue with the plans for expansion. Frankl said the planning process for the projects dates back years.
“In 2022 following the pandemic recovery we undertook a master planning process that forecasted a fairly robust amount of growth at Bluegrass Airport. Just two years later we had already surpassed our activity for pre-covid,” said Frankl.
The airport’s roadway and parking expansion project looks to add over 815 new parking spaces and a new exit plaza. The approximated cost of the expansion is $17.8 million. Relocation of the air traffic control tower, which is currently causing development constraints because of its location, will cost approximately $85 million. The cost of the terminal expansion is expected to cost $500-$700 million over the next decade.