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VAA to Present Partnership Funding Proposal for Runway Extension to Federal and Provincial Ministers
Jun 1, 2009
The Board of the Victoria Airport Authority (VAA) today resolved to present to the federal and provincial governments the extension of Victoria International Airport's main runway as a stimulus partnership opportunity and to commit the VAA for its proposed one third share of the cost. This decision was reached after reviewing the results of extensive studies and stakeholder consultation. Technical, archeological and environmental studies have identified no significant issues. The preliminary engineering design has reduced the estimated cost of construction to $39 million. The business case confirms that the new service will bring an additional 48,300 tourists a year to the region with a potential annual benefit to the community of $37.5 million in economic output demonstrating a positive return on investment.
"All of the technical studies support the runway extension project," commented Christine Stoneman, Chair of the VAA Board. "The runway extension will permit non-stop flights to Europe and offer the community a significant economic stimulus project in the short term. The positive impact on tourism and business will be a long term ongoing strategic benefit to Victoria and Vancouver Island."
Director Airside Operations & Development
Victoria Airport Authority