The Federal Aviation Administration is picking up most of the tab for the project.
The main runway will be closed until September, while officials re-route the runway away from Highway 41.
Once the work is finished, the new strip will give pilots more pavement to work with.
"It won't affect traffic while we're doing all the construction," said Evansville Regional Airport Spokesperson Dianna Page. "We've shifted all the takeoffs and landings to our north-south runway. So, we don't anticipate any redemption of flights or changes in flight times. We'll run our operations, business as usual just off another runway."
Page says once construction is in full swing there will be as many as 100 workers on the site each day, most of which are local contractors.