Vancouver International Airport (YVR), Canada, has broken ground on several construction projects to improve the airport experience and its competitive position as a connecting hub.
The projects are part of the airport’s expansion plans under which it will complete 75 major projects, totalling CAD9.1bn ($6.9bn), over the next 20 years.
The projects of YVR include construction of one of the largest GeoExchange systems in Canada, significant terminal expansions, new parking options and improved vehicle rental facilities.
One of the fastest-growing airports in North America, YVR has welcomed 24.2 million passengers in 2017 and has forecast 32 million passengers by 2022. The airport expects 327,000 tonnes of cargo by 2020.
YVR supports 24,000 jobs on Sea Island and more than 100,000 jobs across British Columbia. Its operations, along with tourism and cargo, contribute more than CAD16bn ($12.1bn) in economic output, CAD8.4bn ($6.3bn) in GDP and CAD1.4bn ($1.06bn) in government revenue across British Columbia.
The airport said that the expansion projects will have significant economic and employment benefits in the region. By the end of 2018, construction activities at YVR will create 2,500 full-time jobs on Sea Island and hundreds more off-site.
Most of the work will be carried out in the province, offering a number of jobs for British Columbians.
YVR’s expansion plans have been made possible by the airport’s unique, not-for-profit operating model. The airport does not receive government funding. All profits generated at YVR are reinvested into the airport for the benefit of its customers, partners and communities.
Vancouver Airport Authority President and CEO Craig Richmond said: “We are experiencing record growth at YVR as we deliver on our mission to connect British Columbia proudly to the world and these ambitious expansion projects will further position YVR as a world-class connecting hub.
“As we build the airport of the future, our focus is to move people and goods efficiently, while continuing to delight people with a wide range of offerings, amenities and outstanding customer service.”