Aeronautics Economic Development Fund

The development strategy for Aeronautics Economic Development Fund to impact job creation and investment opportunities in Tennessee’s aviation industry. Our aviation facilities are critical to the economic development of communities across the state.

Tennessee’s aerospace sector has a rich combination of research assets, capital investment opportunities, advanced manufacturing expertise, accessibility to educational resources, and workforce capacity. This environment provides an excellent opportunity for new or expanding aerospace programs and activities.

The table below includes the Aeronautics Economic Development Fund award recipients announced in Fiscal Year 2023.

Award Recipient
Project Description
Award Amount

Smyrna/Rutherford County Airport Authority

Construct a common use parking area of 95 spaces, expandable to 150 spaces, in area adjacent to maintenance hangars.  This allows the current parking area to be developed, adding an additional 33,000 sq ft maintenance hangar.  $458,900
Collegedale Municipal Airport  Construction of 12,000sq foot facility that is capable of adequately storing three mid-size jet aircraft, apron and parking space for clientele, as well as an adjoining taxiway easement.  $1,282,500

Fayette County Airport

Construct 100 x 80 commercial use aircraft hangar and office space. Allows for expansion of flight school.  $1,026,000