"We visited many airports. This one has by far the best setup," Laurentian Chief Financial Officer Robert Caron told The Press Republican.
Factors in the selection of Tech Valley by Laurentian included economic development incentives, proximity to the Montreal aerospace community, the availability of ample space on its 12 million square foot concrete apron for future expansion, the lack of congestion or flight restrictions and low airport costs.
Those incentives include
Empire Zone benefits, $3 million in funding from the New York State Department of Transportation's Multi-Modal program and $500,000 from the
New York State Energy Research and Development Authority's new construction program.
Laurentian is also eligible for a capital grant of up to $6.1 million, which includes $4.1 million for Phase 1 construction from
Empire State Development.
Construction of the 262,000 square foot, two-bay hangar complex will begin in October 2006, become partially operational in mid-2007 and start full operations by April 2008.
Laurentian is also considering construction of a second complex, costing of $50 million, by 2011.
The complex will specialize in wide body aircraft - such as the Boeing 747 and the Airbus A300 - offering a full range of MRO services for airlines, air cargo operators and others including C and D checks, repairs, aeronautical equipment updates, overhauls and conversions. Its state-of-the-art facilities will include laser-directed docking systems, valued at $6 million each.
The laser-guided system eliminates delays associated with loading and unloading an airplane from traditional hangars, a cost savings for airlines of $500,000 for every C or D check. This type of system is currently only used in France and Dubai.
“You are going to see a facility here that will attract global attention,”
Plattsburgh-North Country Chamber of Commerce President Garry Douglas said.
Laurentian is a venture led by President and CEO Paul Gobeil and Chairman of the Executive Board Pierre Jean Jeanniot, past CEO of Air Canada and a past Director General of IATA (International Air Transport Association).
The company's workforce needs will be supported by Plattsburgh Aeronautical Institute, a new training center due to open at the airport next year and through a partnership with the prestigious Ecole Nationale d'Aerotechnique in nearby St. Hubert, Quebec.
Plattsburgh International Airport is a multi-purpose aviation and aerospace complex created from the former Plattsburgh Air Force Base. Located just one hour from downtown Montreal, it is regarded as “Montreal's U.S. Airport.” It is already a fully operating, profitable and debt free airport and aerospace park with tenants including Pratt & Whitney Canada, Bombardier, Wood Group, Precision Jet Management, Top Aces, Commutair and the U.S. Department of Homeland Security's border air security center.
Laurentian's presence is seen as the emergence of Plattsburgh International as a new center for aviation and aerospace activities in North America, and is expected to attract additional ventures and operations to the site.
When a new $20 million passenger terminal and related improvements are completed in 2007, it will also enter the passenger market, offering a low-cost airport with a 12,000 foot runway serving the 5 million people of northern New York and greater Montreal.