Edward F. Knapp State Airport Business Plan
R.A. Wiedemann & Associates, Inc., performed an Airport Business Plan for Edward F. Knapp State Airport in 2008. The Edward F. Knapp State Airport serves the Capitol of Vermont and the City of Montpelier and competes with five other airports within 30 miles of the Airport.
Because of the Airport’s importance in serving the State capital, the high level of competition in the immediate region, and the desire of the Vermont Agency of Transportation (VTrans) to efficiently manage the State’s assets, this Business Plan looked at ways to improve the financial performance and operations at the Airport.
Some challenges that the Airport faced included constraints to airside and landside improvements, socioeconomic trends in the region, capital investment sources, and public support.
In order to overcome these obstacles, several revenue enhancement strategies were developed. Elements of these strategies included:
- The attraction of corporate aviation
- Airport branding
- New or improved terminal services, amenities, and activities
- The development of additional hangar facilities
- Aviation and non-aviation property development that takes advantage of more than 21 available acres
- Methodologies for increasing operational efficiency.
An economic impact assessment of the Airport was also performed as a part of the Business Plan.