Dave Penzone, a consultant for the City of Pensacola, provided his quarterly update on the VT-MAE Maintenance, Repair and Overhaul (MRO) project at the Pensacola Airport to the Pensacola City Council and Escambia County Commission. Penzone reported that construction of Hangar 1 has been completed and that the ribbon cutting will take place on June 8th. The Hangar 1 project cost $46 million and will create 400 jobs. The local government investment in the project was $8 million.
Penzone also provided the city council and county commission an update on the city’s Triumph Gulf Coast request for the MRO project. The goal of the Triumph request is to bring create a VT-MAE campus with three additional hangars at the Pensacola Airport. Penzone stated that if the full VT-MAE expansion were to take place at the airport, there would be an additional 1,325 jobs created with an average salary of over $44,000/year. If the full VT-MAE campus were to be completed, VT-MAE would be the fifth largest private-sector employer in Escambia County.
Penzone laid out the city’s Triumph project request in detail. The city is asking for $135 million from Triumph over a four-year period. This would be done in installments of $68 million in 2018, $0 in 2019, $38 million in 2020 and $32 million in 2021.The city’s budget for their portion of the $200 million includes $35 million from VT-MAE, $10 million from local government sources and $20 million from other sources.
City staff met with Triumph staff members Rick Harper and Cori Henderson on March 29th to review the city’s proposal. Based on that meeting, the city will revise their initial proposal and resubmit to Triumph in May. Penzone believes that the Triumph board will consider the MRO proposal sometime this summer.
You can find Penzone’s full report here.