February 1, 2012
The recent completion of Sugar Land Regional Airport’s (SLRA) Taxilane Juliett creates up to seven sites for corporate hangars, facilities estimated to provide $700,000 per year from leases and fuel sales.
The majority of the 10-acre $7.8 million project was funded by a Federal Aviation Administration grant administered by the Texas Department of Transportation’s (TxDOT) Aviation Division. The Sugar Land airport’s share of the project was just over 10 percent.
Since the late 1990s, TxDOT Aviation has contributed more than $43 million in grant funds toward projects at SLRA, including a general aviation complex, a terminal apron and standby power generators, to name a few.
SLRA contributed more than $38.4 million to property tax rolls in 2010, funding services provided by Fort Bend County and Fort Bend ISD.
Projects like Taxilane Juliett benefit the regional economy by providing an amenity considered an important part of corporate relocations to the area. The airport provides jobs, corporate access to local markets, access to air transportation services, and facilities to house corporate aviation departments.
“The vision of this airport as a corporate amenity began long ago,” said Mayor James Thompson during a ribbon cutting ceremony for Taxilane Juliett. “It was in 1990 that the city, with generous help from the Federal Aviation Administration and our legislators, purchased Hull Field for $18.5 million, and we know now it was a very good deal. It was a visionary decision. It was a deal that just didn’t happen. A lot of folks made that purchase possible, including former Mayor Lee Duggan.”
As part of the Taxilane Juliette project, SLRA unveiled a new street called Lee Duggan Drive.
The airport purchase was among the most notable achievements of Duggan’s many accomplishments as mayor.
“Lee had the vision to recognize that the airport was a good investment for the City,” said Thompson. “Not only did he see real value in this airport, he fought hard to make sure the City was able to purchase this facility. And it was no small effort. The significance of this new street is truly significant. It is a street that will serve our new Taxilane Juliette project, a project that ensures Sugar Land Regional Airport remains at the forefront of luxury corporate aviation.”
Sugar Land Regional Airport is the fourth largest airport in the greater Houston area and the foremost general reliever airport in the southwest sector. The airport handles approximately 350 take-offs and landings each day, accommodating the largest business jets and serving more than 100 Fortune 500 companies annually. The airport is a self-sustaining operation, meaning the airport does not rely on property tax support. Hangar leasing and fuel sales are the airport’s main revenue sources.
http://www.yourhoustonnews.com/sugar_land/news/airport-project-fuels-regional-economy/article_2e002fd0-ade0-5ff2-8511-97ab31763e03.html
Source: SUGARLAND SUN
Date: 2012-02-01