US$1.1 Billion Development Plan for Orlando

Oct. Board APM PicThe Greater Orlando Aviation Authority (GOAA) Board has voted to almost double Orlando International Airport’s (IATA: MCO) passenger capacity.  The airport was originally designed to accommodate 24 million travellers annually, but the approved expansion plans will increase the capacity of MCO’s current terminal to 45 million passengers per year.
“As a major economic engine for the region, Orlando International Airport is poised to meet the growth demands of our global community,” says Frank Kruppenbacher, Chairman of the Greater Orlando Aviation Authority.  “Over $5 billion has been earmarked for investment into local industries, which creates jobs, and we must anticipate the demand these investments will create.”
The Board-approved Capital Improvement Plan (CIP) was developed to reflect the airport’s philosophy of building to meet demand.  Main objectives of the CIP include maintaining existing facilities consistent with The Orlando Experience; modifying and expanding existing facilities to achieve ultimate North Terminal capacity; improving international processing to accommodate growth and developing facilities to generate non-aviation revenue. The goal of the CIP is to address issues of capacity for the near term and far term.
 
Major elements of the $1.1 billion project include:
Maintaining Current Facilities
* Terminal Ticket Lobby/Baggage $113M
* Baggage Improvements $148M
* Other Terminal Projects $60M
* Airsides 1 & 3 APM $90M
* Airfield Projects $76M
* Ground Transportation/Other $33M
 
Support Sustainable Growth
* South Airport APM Complex $470M
* Airside 4 International Improvements $114M
 
Future Considerations
* South Terminal TBD
 
“Our philosophy has always been to plan for the future and implement strategies that make financial sense,” says Phil Brown, Executive Director of the Greater Orlando Aviation Authority. “Our overall goal is to provide an efficient facility by phasing in projects over time and securing funding, while limiting the impact on the travelling public.”
Additional benefits to the Central Florida community will be an estimated 4,000 direct and indirect jobs and the global traveling community will enjoy greater ease of access.  Construction on these projects is expected to begin in fiscal year 2014 and will conclude by fiscal year 2017.
Key sources of funding for these and future projects include; Passenger Facility Charges (PFC’s) Customer Facility Charges (CFC’s) and bonds.