11/5/2023 0 Comments Aerospace park tri cities airportThe project has the backing of Tennessee House Speaker Beth Harwell. “They want to know exactly where this is going.” Are powerful people on board with Aerospace Park? “They’re our partners, and they’re very important,” Smith noted. Ten additional acres are expected to be prepared by late 2018.Īccording to an executive summary of the agreement, the bonds will be primarily repaid in the near-term future from amounts payable by the Tennessee Airport Authority members.Īirport Authority Chairman Jon Smith asked airport Executive Director Patrick Wilson to submit progress reports to them. Twenty-one acres are certified through the Tennessee Department of Economic and Community Development (TDECD) as a Select Tennessee Site. To date, airport officials say more than $23 million has been invested in infrastructure serving the total 160-acre area including grading a portion of the site, constructing an industrial access road and installing utilities. The grading, according to the agreement, is estimated to cost up to $18 million. What’s been happening: The Airport Authority and the airport’s former owners - Bristol, Kingsport, Johnson City, and Sullivan and Washington counties - signed an agreement last year backing those bonds. Airport officials expect Aerospace Park could attract up to 2,000 aviation-related jobs. The background: On the Tri-Cities Airport’s southside airfield, the plan is to develop a “build-ready” site for a future “maintenance, repair or overhaul” facility or other aviation-related industry on approximately 160 acres. The Tennessee Comptroller’s Office has been made aware of an $8.5 million bond issue to help finance grading at what has been billed as the region’s next big jobs producer, Airport Authority commissioners were told. Aerospace Park stayed on the Tri-Cities Airport Authority’s radar on Thursday. SeptemNews What’s new with Aerospace Park?īlountville, Tenn.
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