Laurentian Aerospace plans to build a new heavy maintenance facility for widebody aircraft at Plattsburgh International Airport in upstate New York.
The greenfield hangar will accommodate aircraft up to the size of a Boeing 747-400 in two bays covering approximately 25,000m² (273,000ft²). Construction is to begin in April with maintenance, repair and overhaul (MRO) operations scheduled to begin in the fourth quarter of 2012.
The facility will employ around 900 people by 2014, says Laurentian chief executive Robin Wohnsigl.
Laurentian Aerospace is currently negotiating financing with Verdant Capital Group for the $175 million venture at the former Plattsburgh US Air Force base, which is located approximately 100km (60 miles) south of Montreal.
New York's Empire State Development has approved a $12 million loan and a $4.1 million grant for the project. Clinton County Industrial Development Agency, from which the site will be leased on a 40-year contract, has agreed to tax-exempt bonds to contribute to the overall cost. Senator Betty Little sponsors the project with a $2 million grant to Clinton County.
Source: Air Transport Intelligence news
