The Tri-Cities Airport Authority (TCAA) has been awarded a $1,690,000 grant from the Tennessee Department of Transportation’s (TDOT) Aeronautics Economic Development Fund to further the development of Aerospace Park.
Aerospace Park is a direct-airfield development. The site offers 21 acres certified for immediate development and an additional 140 acres under development. TDOT’s grant funding should allow TCAA to complete the final phase of construction including final grading, access roads and utilities for the Aerospace Park development project.
“Aerospace Park is an important economic development project for our region, and we 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. “We also greatly appreciate the support and hard work our legislative delegation, community partners and staff have devoted to this project.”
The purpose of the TDOT 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.