BIDEN ADMINISTRATION ANNOUNCES $1 BILLION IN FUNDING TO IMPROVE AIRPORT TERMINALS ACROSS THE U.S.
August 16, 2022
On July 7, 2022, the Federal Aviation Administration (“FAA”) announced that under President Biden’s Bipartisan Infrastructure Law (“BIL”) nearly $1 billion will be allocated through grants to 85 airports across the U.S. with the aim of expanding the capacity of terminals, promoting competition, increasing energy efficiency, and providing greater accessibility for individuals with disabilities. Airports will receive the funding through grants that have been allocated for nearly 100 approved projects.
The grants announced will be funded under the Airport Terminal Program which lasts for five years and provides for grants amounting to $1 billion annually. This Program, together with the Air Traffic Facilities and Airport Infrastructure Programs, form FAA’s modernization plans to invest the $25 billion granted by the BIL to address aging infrastructure. According to the White House, the BIL is a “once-in-a-generation investment in infrastructure and competitiveness” with one of its driving factors being to upgrade U.S. airports and ports to strengthen supply chains and prevent the type of disruptions that have caused inflation.
If you have any questions, please contact Evelyn Sahr (esahr@eckertseamans.com 202-659-6622) or Drew Derco (dderco@eckertseamans.com 202-659-6665).
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