CIB and Thompson Regional Airport close $52 million in financing for large-scale airport redevelopment project

Northern Manitoba airport critical hub for 37 Indigenous and northern communities

• CIB's $52 million loan to enable the redevelopment of Thompson Regional Airport.
• Replacing and upgrading the airport terminal will provide a long-term solution resilient to the impacts of climate change.
• Airport serves 37 northern communities, including 15 remote Indigenous communities only accessible by air and ice roads.

THOMPSON, MB, Nov. 28, 2023 /CNW/ - The Canada Infrastructure Bank (CIB) and Thompson Regional Airport Authority (TRAA), announce financial close on a $52 million investment towards the redevelopment of Thompson Regional Airport. The airport is a hub providing essential passenger and cargo services to communities in northern Manitoba and western Nunavut.

Located six kilometres northwest of the City of Thompson, the redevelopment of the Thompson Regional Airport includes:  

• the replacement of the air terminal building, which is sinking into the discontinuous permafrost;
• non-airside-related infrastructure, including extension of sewer lines from new terminal to expanded lagoon, parking lots and service roads; and
• airside-related infrastructure, including new apron and taxiways, and expansion of existing apron and related infrastructure.

Following project completion, the airport will continue supporting long-term access to critical goods and services, including retail trade, medical, social, educational and fire suppression. The project also ensures the airport's operational safety as well as supporting the region's critical mineral mining opportunities, growing cargo and passenger travel needs.

Absent CIB financing and other government support, the existing airport terminal building would eventually be made inoperable due to climate change.

The airport serves as a regional catchment area for 37 northern communities which includes many First Nations ? 15 of which are accessible only by air and the ice road ? serving a market area population of approximately 65,000 people. 

The redevelopment of the Thompson Regional Airport is being financed through the CIB's Indigenous Community Infrastructure Initiative, which lends to projects delivering a direct bene?t to Indigenous communities.

Endorsements

The Thompson Regional Airport serves as a lifeline to remote and Indigenous communities in northern Manitoba and western Nunavut. The CIB's loan will enable the redevelopment of the airport, ensuring the needs of the Indigenous communities who rely on, and air carriers that serve, the airport, are met. Representing the CIB's first investment in redeveloping an airport, this partnership provides a safe and climate resilient solution benefitting the region for decades to come.
Ehren Cory, CEO, Canada Infrastructure Bank

The Thompson Regional Airport is critical to the economic resilience and well being of Indigenous communities in northern Manitoba and western Nunavut. The redevelopment of the airport is essential to their quality of life, and for increasing economic and business opportunities in the region. I am proud that with the support of the CIB and Infrastructure Canada announced today, northern citizens will continue to have access to a reliable, modern air transportation service for years to come.
The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

This is a historic event that will leave a lasting legacy in northern Manitoba. The support provided by the Canada Infrastructure Bank, the Disaster Mitigation and Adaptation Fund and the Province of Manitoba shows a significant commitment to ensuring Thompson remains a regional hub for the economic and social well being of all northern citizens and will lay the foundations to look after future generations to come.
Vince Shumka, Chair, Thompson Regional Airport Authority

Thompson is the Hub of the North, serving a region of 65,000 people. Northern Manitobans rely on the Thompson Regional Airport to travel to and from the City of Thompson for work, education, shopping, tourism and health care. This historic investment in important northern infrastructure is great news for the airport, for Thompson and for the north.
Colleen Smook, Mayor, City of Thompson

It is my privilege on behalf of the 11 Nations of Keewatin Tribal Council, and as a founding member of the TRAA, to acknowledge and witness this project come to fruition. This project represents a major achievement not only for the City of Thompson but the entire region. Collaborating with the CIB and the Province of Manitoba has been instrumental in securing funds to re-develop the airport infrastructure which will have an enormous impact on the quality of life for all residents within the region. This infrastructure will serve the region for accessibility to health care, goods and services, justice, education, sports and recreation.
Walter Wastesicoot, Grand Chief, Keewatin Tribal Council

The Thompson Chamber of Commerce, supported by its members, know of the opportunities that exist throughout northern Manitoba and the northern territories. The new airport terminal building at the Thompson Regional Airport will create an even brighter future facilitating the flow of freight, passengers and tourists as well as improving the accessibility and image of the entire north. Thank you to the Canada Infrastructure Bank, the Disaster Mitigation and Adaptation Fund and the Province of Manitoba for their confidence in recognizing and supporting the future of the north.
Tom O'Brien, Thompson Chamber of Commerce

Thompson Regional Airport is a regional asset for transportation of people, goods and services. The airport plays a vital role in medical, Justice, education, tourism and economic development for Thompson, surrounding Indigenous communities and northern Manitoba residents and visitors.
Darlene Beck, Chair, Community Futures North Central Development

Learn More:

Canada Infrastructure Bank
Thompson Airport 

SOURCE Canada Infrastructure Bank