The New River Valley (NRV) Airport has been awarded $743,425.00 in grant funds to strategically expand its aircraft parking ramp.
The funding comes in the form of two grants. The first grant issued by the Federal Aviation Administration (FAA) covers 90 percent of the project cost and is for $682,738.00; the second grant issued by the Commonwealth of Virginia Department of Aviation covers 8 percent of the project cost and is for $60,687.00.
The expansion at the airport is something the Airport Commission and local government leaders feel is critical to the short and long-term growth of the region.
“The NRV Airport has always been a vital asset and a differentiator in our economic development toolbox, and expanding its capabilities is important to supporting the New River Valley and serving specifically the significant business growth we are experiencing here in Pulaski County,” stated Jonathan D. Sweet, County Administrator, Pulaski County. “The airport’s ability to leverage federal and state grants to cover 98% of the cost makes the project viable, allows for a much quicker return on investment back to the Commission and gives our business and industrial community a greater competitive advantage in the marketplace.”
Read the full story from ABC-13 WSET.