The City of McKinney has approved contracts to begin construction on a $72 million commercial terminal at McKinney National Airport (TKI), with the goal of launching passenger service by late 2026. The project is positioned to make McKinney the third commercial airport in the Dallas–Fort Worth region.
The plan includes a 45,000-square-foot terminal with three gates and room for future expansion to five. Initial projections estimate the terminal could serve 200,000 passengers in its first year, with long-term plans to accommodate up to 1 million annually.
Construction is expected to begin in June. The city awarded a $58 million design-build contract to Swinerton and a $2.8 million engineering and architecture contract to Garver. Additional contracts bring the total committed investment to over $72 million.
Funding comes from a mix of local and external sources. Roughly $45 million will be covered by sales tax revenues from McKinney’s Economic and Community Development Corporations. Additional funding includes the city’s utility construction fund, incremental tax revenues from the airport area, and federal, state, and county contributions. City officials reported receiving $88 million in outside investment to date, with $30 million more under review.
The airport expansion follows two failed bond measures in 2015 and 2023, prompting city leaders to restructure the project financing. The approved terminal will serve as core infrastructure to attract low-cost carriers, with ongoing discussions reportedly underway with two budget airlines.
The airport currently generates an annual economic impact of nearly $300 million, with that figure expected to rise to $400 million following the terminal’s completion. The project is intended to benefit residents and businesses in the fast-growing Collin County region by offering a closer, less congested alternative to DFW and Love Field.