In order to upgrade the Townsville Airport and allow for the terminal to meet the current and expected passenger capacity, the Northern Australia Infrastructure Facility (NAIF) has provided a $50 million loan.

The loan from NAIF will contribute towards Queensland Airports Project Alive redevelopment and take over 2 years to complete.

This project is NAIF's 2nd decision to invest and drive economic growth in the Townsville region. The first project, a $6 million loan to develop a Technology Innovation Complex at James Cook University, was announced in July 2018. Through all the investments, NAIF has committed a total of $623 million in Queensland. 

Matt Canavan, Minister for Resources and Northern Australia, said that this funding proves a vote of confidence by the Federal Government in Townsville, despite rough past months. He goes on to say that Townsville is the largest city in Northen Australia and is a major touch point for people who travel to the area, thus the Townsville deserves a world-class airport. 

This project will provide 200 full-time jobs during construction and 50 operational jobs after the project is completed.