INDIANAPOLIS -- The fluctuating marketplace won't impact the financial stability of the new $1.1 billion terminal at Indianapolis International Airport, officials said.

Tuesday marked the dedication of the project, which has been more than 30 years in the making, 6News' Norman Cox reported.

Despite recent cutbacks across the air travel industry, officials said Tuesday that they are confident the new terminal is a good investment.

"An airport is a once-in-a-generation investment and a key facility in shaping the opinion that people have of a city. You never get a second chance to make a first impression," Airport Authority President Randal Tobias said a the dedication ceremony.

Officials said that financial support for the new terminal is separated into two parts: 40 percent from the people and companies that use the airport, rental fees and a surcharge on tickets and 60 percent from other services like car rental companies, parking and some of the food concessions.

Even if that income takes a temporary dip, it won't affect the airport's overall bottom line, officials said.

"This terminal is the long run. This is a 30-year investment," said Airport Director John Kish. "Passenger traffic moving up and down a couple of percentages really is irrelevant to the financials behind the airport."

Officials called the terminal one of the best new airports in the country, and said that operations would be safer and more efficient with less taxiing time between the gates and the runways.

Indianapolis Mayor Greg Ballard said he hopes new terminal will challenge visitors to think again about the city surrounding it.

"We're going to need this for economic development," he said. "We're going to become an even larger freight center for the Midwest if not the country, there's no question about that. And not to mention that, it's my intent to make Indianapolis more international in scope anyway."

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