How is the airport being paid for? How much will it cost?

No significant funding from the City is anticipated at this time for the project. For grants which require matches, funding will either come from grants from other agencies or in-kind donations. Further authorization would be required from City Council once actual costs are determined by the preliminary design.

Approximately $22 million in funding is currently available and allocated for the airport project through the ARC and the AEDF. In-kind contributions from the U.S. Department of Energy (DOE) and the Community Reuse Organization of East Tennessee (CROET) for the value of land are to be transferred at minimal cost for this project. The City has received an additional $11 million in State funding for land acquisition, bringing total State investment in the project to $30 million. The Federal Aviation Administration (FAA) has yet to determine the contribution it will make to the project, but the Benefit-Cost Analysis calls for $20 million in funding.

The Tennessee Valley Authority has provided a $40,000 grant for the project.

In March 2021, UT-Battelle Development Corporation contributed $500,000 to assist with the project.

EnergySolutions donated an underutilized railroad track where part of the proposed airport's 5,000-foot runway would go.

Based on a 2018 estimate, the project is expected to cost about $55 million.

Show All Answers

1. Where will the airport be located?
2. How is the airport being paid for? How much will it cost?
3. Who is working on the project?
4. What will the airport be used for?
5. What's the timeline? When will the airport officially open?