PHILADELPHIA-The Philadelphia International Airport will get $5.2 billion in improvements over the next 12 to 15 years, according to the Philadelphia Inquirer. Proposed work includes the addition of a fifth runway, the lengthening of two airstrips, and the expansion of the terminal complex.

Funds for the project will be provided by city revenue bonds, passenger charges and grants from the Federal Aviation Administration, says Mark Gale, the airport’s chief executive officer, according to the paper. The airport’s economic impact on the region in 2006, was $14.4 billion, according to studies.

The airport expects 20 million annual passengers by 2020, says Gale, up 33% from last year. To accommodate that growth the airports total number of gates will increase from 120 to 150. Additionally, existing parking lots will get 3,500 new spaces, and construction is planned for new transportation center with a rental car complex that will add 4,000 spaces.