Job increases, environmental impact and airport expansion were just a few of the points highlighted in the 2020 draft Master Plan for Launceston Airport.
The draft phase of the report allows for the public to be consulted before it goes to federal Infrastructure, Transport and Regional Development Minister Michael McCormack, according to airport general manager Paul Hodgen.
"This phase of the report gives the public an opportunity to comment on what's there and for us to refine our plan before it finally gets presented to the minister," Mr Hodgen said.
The reports will be conducted every eight years after previously being conducted every five.
The 2020 report indicates the possible expansion within the next five years of both the arrivals and departures lounges, as well as the gates.
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The are also plans to upgrade the airports security checkpoints within the next year.
The report predicts that more jobs will come alongside these expansions.
Launceston Airport employs 382 people across a number of roles and occupations such as airport management, car rental services and security.
In the next eight years, the airport anticipates that a further 69 employees will be needed. That number is predicted to increase by 107 by 2040.
The report has also forecast a $60 million capital investment program for infrastructure and maintenance projects, in which local contractors will be preferred.
This phase of the report gives the public an opportunity to comment on what's there and for us to refine our plan before it finally gets presented to the minister.Paul Hodgen.
The plan also suggests the airport decommission the airport's grass airstrip, located on the east side of the precinct.
"Shutting it was something we eluded to in our 2015 plan and the last five years has really reinforced the idea to do that," Mr Hodgen said.
"You have an asset there which is under-utilised and the maintenance aspect of it is pretty inordinate. There's probably other good, commercial things we could do in that space."
The report also includes an Indigenous Assessment Plan to ensure the Indigenous heritage of the area is protected.
The assessment found four total artefacts, along with two potential archaeological sites near or within the airport site.
You can read the report here.