Akron-Canton Airport unveiled its new three year strategic plan Wednesday, including retaining and attracting air service and strengthening the airport's financial health.
The airport wrapped up its previous five year strategic plan in 2024, which included a gate modernization project, upgrading terminal Wi-Fi and expanding air service from four nonstop destinations to a record setting 22, Akron-Canton Airport President and CEO Ren Camacho said. The airport has since added two additional nonstop destinations for a total of 24, he said.
"It's three years as opposed to five years, because our industry is so dynamic and everchanging," he said. "We wanted to keep it more realistic with a three year strategic plan."
The airport serves nearly 800,000 passengers a year, Camacho said.
The plan addresses opportunities the airport has right now, like additional air service and investment in new technologies, while also addressing some potential challenges, like airline mergers, aircraft manufacturer delays, infrastructure needs and more federal regulations, Camacho said.
"Less competition when airline mergers take place, which makes it riskier for a regional airport like CAK to be prosperous," he said.
Currently, four airlines have service at Akron-Canton, Camacho said.
Another challenge facing the airport is the size of the planes manufacturers are now building, he said.
"Bigger plans means we need to fit more people, accommodate and have more people on those planes for the airlines to stay here," he said. "We are truly in a use it or lose it industry."
The airport will also need to get started on a big capital project in the coming years: replacing the airport's air traffic control tower from 1962, Camacho said.
"That new tower is not cheap, because it's a standalone facility - very likely in the neighborhood of $55 million," he said.
The airport will begin looking at a location to build a new tower next year, Camacho said. Other planned improvements include a customs facility refresh and parking expansion, he said. In the long-term, officials are looking to replace the customs facility, install an inline baggage system and make more operational equipment and technology upgrades, he said.
Camacho hopes the airport can continue expanding air service.
"That's a stark contrast from during COVID - we had four nonstops - so more than a five-fold increase," he said.
2024 projections show the airport has helped create nearly 5,000 jobs and increase the region's personal income by $330 million, Camacho said. He's excited about future destinations the airport is working to expand to, including Houston, Denver and Atlanta, he said.
Overall, the airport's statement of purpose in the new strategic plan reads, "Offer caring service, invest in the travel experience and elevate economic activity through innovation and community engagement."
