Campbell Aviation began developing Indianapolis Executive Airport (TYQ) as Terry Airport in 1957 with a 3,340-by-60-foot (1,018 by 18 m) bituminous runway configured in a north–south direction and a 3,000-by-200-foot (914 by 61 m) turf runway configured in a northeast–southwest direction. It was certified by the State of Indiana in 1958. The airport included 10 T-hangars and an administration building. A few years later, 26 more T-hangars were added.

In 1965, the Campbells sold the airport to the Van Sickles. In 1978, the north–south runway (Runway 18–36) was lengthened to 5,160 feet (1,570 m), widened to 75 feet (23 m), and three aircraft turnarounds were constructed. Other improvements included installing High Intensity Runway Lights (HIRL), Visual Approach Slope Indicators (VASI-2) for both runways, and an Instrument Landing System, including a Non-Directional Beacon (NDB). Three large hangars were also added.

The airport was classified as a reliever to Indianapolis International Airport in the 1980s, which opened the door for the facility to get government funding from the FAA and the state of Indiana. In 1986, TYQ received its first federal grant for construction to install underdrains for Runway 18-36 and acquire 40 acres (16 ha) of land for approach protection. In 1987 and 1988, other grants were received to reconstruct, widen, and groove the primary runway, which resulted in a 60,000-pound (27,000 kg) DWL (dual wheel loading) strength for the runway. Under this grant, 33 acres (13 ha) of land were acquired, an aircraft apron was constructed, and a partial parallel taxiway was added. In the early 1990s, TYQ received three more grants for extending the runway to its current length of 5,500 feet (1,700 m) and acquiring an additional 322 acres (130 ha) of land. The airport did not receive further grants until 2001 when it mitigated wetland impacts and graded the runway safety area. In 2003, the airport was purchased by Hamilton County and the Hamilton County Airport Authority began receiving a series of grants for reimbursement for that purchase.

Indianapolis Executive Airport covers 567 acres (229 ha); it has one runway, 18/36, which is 7,000 by 100 feet (2,134 by 30 m) concrete. For the 12-month period ending December 31, 2019, the airport had 41,810 aircraft operations, an average of 115 per day: 95% general aviation and 5% air taxi.^[5] In November 2023, there were 99 aircraft based at this airport: 68 single-engine, 7 multi-engine, 20 jet and 4 helicopter.^[1]

Jet Access Zionsville is the airport's full service fixed-base operator. Taft Aviation manages the airport's T-hangars. The airport is also host to Beck's Hybrids corporate aviation department. The Civil Air Patrol maintains a squadron at the airport.

Indianapolis Executive Airport also hosts a squadron for the Civil Air Patrol. Eagle Composite Squadron is a squadron whose main weekly meeting location is TYQ. Members of the squadron meet starting at 18:00 and ending at 20:30 every Tuesday. Meetings are categorized based on what Tuesday of the month it is. Eagle has been awarded numerous wing level awards, including Squadron of Merit (SOM) for the years 2022 and 2021. Contrary to many other squadrons in the Indiana wing, Eagle is typically led by the cadets of the squadron (aged 12 – 21) instead of the senior (adult) members. Cadets lead meetings, host weekend and volunteer events, and teach other cadets during their weekly meetings. As of March 2023, Eagle Composite Squadron has 68 members.

• List of airports in Indiana

• First Wing Jet Center., the fixed-base operator (FBO)
• Aerial photo from Indiana Department of Transportation
• FAA Terminal Procedures for TYQ, effective April 18, 2024
• Eagle Composite Squadron
• Resources for this airport:
  • FAA airport information for TYQ
  • AirNav airport information for KTYQ
  • FlightAware airport information and live flight tracker
  • NOAA/NWS weather observations: current, past three days
  • SkyVector aeronautical chart, Terminal Procedures