WASHINGTON D.C. | The Gary/Chicago International Airport will receive a $5 million grant for its runway extension project, U.S. Rep. Pete Visclosky, D-Ind., announced Wednesday.

"The Gary Airport is one of Northwest Indiana's untapped resources with high potential to transform the region," Visclosky said. "These substantial investments in airport improvements can put people to work in the near term while laying the foundation for robust new industries that will create new jobs in Northwest Indiana. The airport can be a catalyst for economic development throughout the region and I am pleased it has the continued support of the FAA."

The funds are the fifth installment of federal assistance from the U.S. Department of Transportation's Federal Aviation Administration for airport expansion efforts under the letter of intent approved in 2006.

The letter of intent provides $57.8 million over 10 years, available in installments of up to $6 million per year, for improvements and expansion. The planned expansion would increase the size of the airport by roughly 50 percent and extend the main runway to a length of 9,000 feet. To date, airport has received over $25 million under the letter of intent.