SPOKANE, Wash. The Spokane International Airport will receive a $15 million loan as it enters the second phase of its Terminal Renovation and Expansion (TREX) Project.
The Treasurer of Spokane County, Michael Baumgartner, Spokane Airport Board Chair, Ezra Eckhardt and Chief Executive Officer, Larry Krauter, announced on Monday that the airport will enter the second phase of a financing agreement to support the TREX Project.
According to Baumgartner, the estimated $150 million project will include a 144,000-square-foot expansion, added ticket counter positions, and “modernizing existing Concourse C infrastructure while also increasing airline capacity by adding additional gates.”
The financing agreement allows the Airport to borrow up to $30 million from the Spokane Public Investment Fund (SPIF) across two tranches. The first $15 million was loaned in March 2023 and will be repaid by March 2024, Baumgartner said. The second loan is expected to be repaid by the end of January 2025.
This is the second loan the airport will receive from Spokane County following the initial $15 million loan, for a total of $30 million.
“The future of Spokane’s economic vitality is directly linked to the ability of Spokane International Airport to serve our growing community,” said Michael Baumgartner, Treasurer of Spokane County. “We remain committed to our partnership with the Airport to see their expansion through to a successful completion on an expedited timeline and with a lower cost to the traveling public.”
For more information on the TREX Project, visit www.gegtrex.com.
