Simcoe County to become majority owner of the Lake Simcoe Regional Airport

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Simcoe County will soon become the majority owner of the the Lake Simcoe Regional Airport, with a 90 per cent stake in the complex effective Jan. 1.County council approved the purchase of an additional 50 shares from the City of Barrie and 20 shares from the Township of Oro-Medonte on Tuesday.READ MORE: Barrie city council hears $65.9-million expansion proposal from Lake Simcoe Regional AirportBarrie will continue as a key joint owner and will hold a 10 per cent stake in the airport.Story continues below

“Simcoe County is one of the fastest growing regions in Ontario. We’re the fourth most popular tourist destination and home to more than 16,000 businesses,” Simcoe County warden George Cornell said in a statement.“Our investment in the Lake Simcoe Regional Airport will allow us to capitalize on future opportunities that help drive our economic prosperity, create jobs and enhance transportation options for our residents.”READ MORE: New LINX transit routes to connect more communities in Simcoe CountyThe Lake Simcoe Regional Airport is set to undergo rapid expansion in an effort to boost regional economic development and create jobs, as well as grow commercial, passenger and commuter air traffic.In June 2018, airport shareholders approved a new three-phase plane focused on developing infrastructure, including runway expansion.“Transitioning ownership allows for the county and City [of Barrie] to strengthen the position of the Lake Simcoe Regional Airport as a regional transportation asset and poises the airport to deliver on its strategic plan that requires significant investment in infrastructure,” Barrie Mayor Jeff Lehman said in a statement.WATCH: Barrie-area residents stressed over increasing hydro rates