Local leaders hope the announcement will move the airfield ahead of Chicago-area competitors, like Rockford, in the race to become the region's third major air hub.
The $90 million plan calls for extending one of the airport's two runways by 1,900 feet and moving railroad tracks and an embankment that runs along the airport's northwest border.
Because of the embankment, the FAA prohibits most wide-body jets from using the airport.
Construction could begin as early as next year.
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