The provincial government says CBCL Ltd., an engineering and environmental consulting firm, is expected to complete the study by Oct. 31.
The government says it's expected to cost about $82,000.
Premier Darrell Dexter first announced the study in May, saying the province wanted to create the proper conditions for an expansion of the 30-year-old tire plant should it occur.
The study will explore the impacts, benefits and costs of relocating the airport as well as recommend a new, preferred site.
Michelin employs about 3,500 people in Nova Scotia, including 1,200 at the Waterville plant.
The airport has a 1,066-metre asphalt runway that mainly serves small aircraft.