The advantages are that it will supply a number of jobs for the local community. This will be because builders, plumbers, electricians etc will be needed for the building of the airport, and then staff will be needed for the different shops/cafes/services. This will cause an increase in employment of the primary, secondary and tertiary sectors, an increase in the local economy and a positive multiplier effect. Another advantage is that local services, such a hotels and transport links will most likely also be improved.
Some of the disadvantages include an increase in noise and air pollution during the construction and then running of the airport. The airport could also be an eye-sore to the community and cause traffic congestion and increase commute times for the local people.