In 1997 they had an architectural competition for a new 430,000 ft² (40,000 m²) passenger terminal, designed to serve 3.5 million passengers a year, north of the original airport. KHR Architects won the assignment and completed the construction in co-operation with COWI, and at the end of May 2002 the new passenger terminal was put to use, as the first phase of the future expansion, which is scheduled to take place north of the start and runway, while air cargo services, business and private aviation will continue to be served from the existing buildings south of the runway. In connection with this expansion, the largest since the beginning of the airport, it was with effect from 1 January 1997 turned into a Joint-stock company, Billund Airport A/S, with the former members Vejle County and municipalities Vejle, Kolding, Grindsted, Billund, and Give as shareholders.
Since around 2000, the Lego Group has been promoting "Lego Serious Play", a form of business consultancy fostering creative thinking, in which team members build metaphors of their organizational identities and experiences using Lego bricks. Participants work through imaginary scenarios using visual three-dimensional Lego constructions, imaginatively exploring possibilities in a serious form of play.