The sale of the Collingwood Regional Airport to Winterland Developments Ltd. has officially closed.
Town council approved the $4.1 million sale last month and Winterland says the purchase was completed on Friday (March 22).
The airport sits on nearly 400 acres of land in Clearview Township.
Clearview also put in a bid to purchase the airport, one of three bids submitted, but Winterland was the highest ranked.
Mayor Brian Saunderson says the town looks forward to the investment and growth Winterland will implement at the airport.
Saunderson says he doesn't yet know what Winterland's specific plans are, but he believes the company is investing 6 to 8 million dollars over 5 to 6 years into the airport.
Winterland Developments has also put out a statement saying they have an exciting plan to operate and expand the Collingwood Regional Airport.
The company adds that management of the airport will continue under North 44 Airport Services.
Winterland says it welcomes enquiries from new parties interested in using the airport.
It says investments and expansion are expected in the coming year, but no other plans have been revealed.