The Stephenville Airport Corp. wants to rebuild and expand the technical stops segment of its business.
Brenda Martin, airport chief executive officer and manager, said up until recently Stephenville airport had fallen off the radar for such stops from both corporate and military traffic, which represents a significant portion of revenue for the corporation.
So the corporation is implementing a three-year strategic business plan and its thanks, in part, to investments by the federal and provincial governments.
Atlantic Canada Opportunities Agency is contributing $49,500 to the project through its Business Development Program.
The province’s investment of $49,500 is provided through the Department of Innovation, Business and Rural Development, which provides support to organizations by way of non-repayable contributions for projects aimed at supporting economic development, innovation and capacity building in all regions of the province.
The announcement was made Thursday by Rob Moore, regional minister for Newfoundland and Labrador and minister of state (Atlantic Canada Opportunities Agency), and Susan Sullivan, minister of innovation, business and rural development.
Martin said such technical stops have the potential for growth and prosperity for both the airport and the region.
She said Stephenville Airport is uniquely positioned from a meteorological and geographic perspective and has infrastructure to service the international corporate and military carriers.
“This funding will facilitate us reaching out to present and prospective new customers through multi-media advertising and possible attendance at trade forums and conferences,” Martin said.
The money will also assist the airport corporation to diversify and benefit from new industrial activities on the west and southwest coast, such as the Maritime Link transmission project and the several metal fabrication facilities.