Houston City Council has voted to approve an ordinance to allocate $150 million from the Houston Airport System Consolidated 2011 Construction Fund for a Memorandum of Agreement between the City of Houston and United Airlines.
United Airlines has begun work on a $2.55 billion transformational project to triple the capacity of the existing Terminal B at George Bush Intercontinental Airport (IAH). The project includes 40 new gates for domestic and international travel, a new processor for ticketing, security and baggage claim, and two new concourses, creating over 3,000 new jobs in Houston.
“The transformation of IAH Terminal B not only promises an elevated passenger experience with cutting-edge technology and modern amenities but signifies a strategic investment in Houston’s economic future as we seek to increase the terminal’s capacity for even more passengers from curb to gate,” said Jim Szczesniak, Director of Aviation, Houston Airports. “The economics of this project are excellent for Houstonians: more than a 25% return on a Net Present Value basis. More than a renovation, this project declares our commitment to progress and innovation, solidifying Houston’s position as a global aviation hub while setting a new standard for airport excellence.”
United Airlines expects to invest more than $1.9 billion in the Terminal B Transformation Program and the City of Houston expects to fund $624 million in enabling projects required for the programme. The allocation of $150 million is the first round of Council-approved funding for those enabling projects.
“United Airlines is committed to providing the best travel experience to our customers and that includes investing in the $2.6 billion redevelopment of our Houston hub,” said Phil Griffith, Vice President – Houston Hub for United Airlines. “We are thrilled that the Houston City Council voted to approve their portion of this project so that we can deliver numerous benefits to our customers and employees and continue to invest in the city of Houston.”
