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VT Aerospace Contract Signed, 300 Jobs Expected
September 10, 2014
The City of Pensacola has inked a lease with VT Mobile Aerospace Engineering, Inc. (VT MAE), which will establish a maintenance, repair, and overhaul (MRO) facility at Pensacola International Airport, creating at least 300 jobs.
The signing ceremony, which took place immediately following a special City Council meeting where the lease was approved, was also attended by representatives from Escambia County and VT MAE.
“We are so excited to bring VT MAE, one of the world’s leading MRO companies, to Pensacola International Airport,” said Pensacola Mayor Ashton Hayward. “By working with VT MAE, we will be able to create good, high-paying jobs and cement Pensacola’s position as a true contender for aviation and aerospace industry investment. This partnership aligns well with our regional goals to create a robust aerospace cluster and will help create greater business and job opportunities for the citizens of Pensacola and Escambia County.”
Tuesday’s announcement concludes the nearly two-year campaign by Hayward and economic development partners, including Escambia County and the Greater Pensacola Chamber, to attract VT MAE, a subsidiary of Singapore-based ST Engineering, to Pensacola. Under the terms of the lease, the City of Pensacola will construct an aircraft hangar complex on 18.66 acres at Pensacola International Airport and lease the facilities to VT MAE for a 30-year term. The hangar will be able to accommodate two wide-body aircraft, and is expected to be ready for operations in mid-2016.
Pictured top: Pensacola Chamber of Commerce Vice President of Economic Development Scott Luth presents the VT Mobile Aerospace Engineering lease to the Pensacola City Council Tuesday. Courtesy photo for NorthEscambia.com, click to enlarge.
Comments
2 Responses to “VT Aerospace Contract Signed, 300 Jobs Expected”
Wondering the status on this. I did not notice any construction going on down at the airport?
Another news source reported that most of the High Paying Jobs would come in from other areas.
Local schools would gear up to help eventually provide some employment for local people.
Hopefully, the deal did not include huge tax incentives so it will also provide for an increase in taxes paid.