An Ottawa-based company intends to breathe new life into the Stephenville Airport. Carl Dymond, the owner of Dymond Group of Companies, is originally from Torbay and will make his acquisition of the airport official in a news conference later this week. The Dymond Group deals in cybersecurity, aerospace (including drone manufacturing and remote services) and travel risk management.
The 1.4 billion dollar investiture by Dymond Group will include about 200 million in infrastructure upgrades and other benefits to the town, as well as a new $10 million dollar fire hall and the creation of 5,000 new jobs. Stephenville’s current population sits at about 6,500 people.
The facility will continue to operate as a regional airport, but future plans will see the airport welcome international flights. It will also be rebranded from Stephenville Regional Airport to Stephenville Dymond International Airport.
An announcement regarding the sale of the airport, which is located on the province’s west coast is scheduled for this Thursday, September 9. More details to follow.