Miami International Airport (MIA) is making strides in boosting its air freight capacity with the announcement of a four-story cargo facility at Miami International Airport.

"The Miami-Dade Board of County Commissioners has approved to invest a minimum of US$400 million in constructing a four-story cargo facility at Miami International Airport that will be the first of its kind in the Western Hemisphere," the announcement said.

When completed, the facility will increase the airport’s total cargo capacity by at least 50% or potentially up to two million tons annually.

In a statement, MIA said the cargo facility is scheduled for completion in 2029 and will bring MIA's total capacity to a minimum of 4.5 million tons of cargo and potentially 5 million tons, future-proofing America’s busiest international freight airport until the year 2041.

MIA noted that it continues to increase its ranks among US airports and worldwide regarding cargo volume.

"With the construction of this unprecedented, state-of-the-art air cargo facility now on track, the sky is the limit for where MIA can lead the air cargo industry globally after consecutive record-breaking years in cargo growth since 2020," the announcement said.

The future Vertically Integrated Cargo Community (VICC) at MIA, a nearly 800,000-square-foot facility on 11 acres of airport land, will also have a massive local economic impact, including a minimum of US$512 million in rent and business revenue to Miami-Dade County's Aviation Department over the 40 years of the agreement.

"Without the VICC, MIA would begin to reach capacity at three million tons of cargo annually. The airport is on pace for 2.9 million tons of cargo in 2024," MIA added.

Daniella Levine Cava, mayor of Miami-Dade County, said that for the past three and a half years, they have "prioritised expanding our cargo capacity at MIA and ensuring reliable supply chain across our residents."

"Today's investment is transformative for Miami-Dade County. The VICC will significantly enhance our airport's cargo capabilities and establish a new sustainable, resilient infrastructure benchmark," she added, noting that the investment will also drive economic growth and solidify Miami-Dade's position as a global hub for commerce.

Raquel Regalado, county commissioner for District 7 at Miami-Dade County, said the Board of County Commissioners approved a lease agreement with a private developer that will require at least 60% of the design and construction firms to be headquartered in Miami-Dade County, and for those firms to hire registered small businesses during all project phases.

The VICC is one of the many investments being made at MIA to modernize and transform every facet of its operations, including everything from maintenance upgrades and renovations in our terminal to the construction of a new parking garage, four-star hotel, and expanded concourses.

"In total, nearly US$9 billion in capital improvements and upgrades are scheduled for completion over the next ten years to elevate MIA's position among the premier airports in the world," she added.