The airport is poised for growth in this new century. A new Master Plan was developed in 1999 to help determine the development of the airport for years to come. As part of that process, in 2002, SBRA completed the first phase of a $29 million Airport Improvement Plan. Thirteen hundred feet of pavement was added to the main runway, bringing it to 8,400 feet; two adjacent taxiways were also lengthened. The next phase will involve continuing the land acquisition south of Lincoln Way West (the airport's south border), relocating Lincoln Way West, and expanding the north-south runway by 1,100 feet for a total of 7,100 feet. The land acquisition, as much as 200 acres, will also allow for the future development of aeronautical businesses, which will provide an economic boost to the community.

Also proposed for the future benefit of the area is the relocation of the interchange of US 31 and Lincolnway West and a portion of the South Shore Rail Line that departs from the Airport Terminal connecting South Bend to Chicago.

An economic impact study conducted by the Aviation Association of Indiana reported that in 2003 SBRA created nearly $400 million in economic activity. This study demonstrates that the airport is a key part of the economic health of the greater Michiana community and will be a major force in its future growth and prosperity.