Waterford Airport is to get €12 million in funding for a runway extension.
The money will come from three different sources including from Wexford County Council.
Funding for this major development at Waterford Airport was secured yesterday with Transport Minister Shane Ross saying the government will provide €5 million towards the runway extension.
€7 million has been promised by local authority and business interests in the south east.
Wexford, Waterford and Kilkenny County Councils are to provide €2 million towards the project while regional companies including Glanbia, Dawn Meats and Coolmore Stud are providing the remaining €5 million of the cost.
Waterford Airport has been without a scheduled service for the past three years and according to Shane Ross if this kind of investment is not put into it now its future is highly uncertain.