Greenwood lands airport growth

Greenwood city officials are considering funding the construction of a $2.5 million project at the Indy South Greenwood Airport that would house a company that is not yet being identified.

Greenwood city staff said the company does not want its identity revealed until a letter of intent to lease the space from the city is signed, which is expected in the next couple weeks, city controller Greg Wright said. The funding proposal will have to go through two rounds of approval.

Currently, the airport at County Line Road and Emerson Avenue houses 87 hangars, eight of which are corporate hangars. Five hangars are available for use, but none are large enough to house this company’s operation, Wright said.

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The hangar would occupy about 12,000-square-feet of space, with an additional 4,000-square-feet of office space, making it the largest corporate hangar at the airport by 2,000 square feet. Other corporate hangars range in size from 3,600 to 4,500 square feet, Wright said. The main airport hangar is 10,000 square feet.

The project is expected to cost $2.3 to $2.5 million. The city plans to put airport improvement funds already approved by the redevelopment commission towards paying for it, but will need to ask the commission for an additional $1 million to make up the difference.

The company is asking the city to build the hangar at the airport, which it will then lease from the airport for about $5,700 a month.

Wright said it would be an investment for the city because it will increase fuel sales at the airport significantly and make the airport eligible for more grants. Eligibility is often based on the number of takeoffs and landings, he said.

“That is what really makes it attractive on the city’s end,” Wright said.

City and airport officials have been in talks with the possible tenant since June, and found out last week the company had chosen Greenwood for its operation, Wright said.

They would like to see the new hangar open by spring. The new hangar would be located just south of the airport’s main hangar and office space.

“We want to get the approval for funding so that we can get the construction started and get the concrete and exterior walls up before the weather changes. Then all of the interior work can be done next year,” Wright said.

The new hangar will not result in any new jobs for the company, Wright said. But it will allow the city to hire an additional full-time technician at the airport.

“We currently have a part-time person for this function, but increasing usage of the facility is contributing to the need to make that position full-time in the near future,” he said.

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The City of Greenwood hopes to build a new hangar and office space for a company that has not yet been revealed. The company would then lease the space from the Indy South Greenwood Airport. Here is a look at some highlights of the proposal:

16,000-square-feet operational hangar

4,000 square feet of office space

$2.3 to $2.5 million to build

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