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Golden Triangle Regional Airport Advances with Land Purchase

Aerial view of Golden Triangle Regional Airport and surrounding land for expansion.

News Summary

The Golden Triangle Regional Airport has finalized a $2 million land deal to acquire 109 acres south of its runway. This acquisition is expected to facilitate future expansions and attract new businesses to the region. Funding will be supported by grants and contributions from local governments, marking a collaborative effort for economic growth in the area.

Golden Triangle Regional Airport Move Forward with $2 Million Land Deal

Exciting news is buzzing around Golden Triangle as the Golden Triangle Regional Airport (GTRA) has successfully wrapped up discussions with stakeholders to greenlight a significant land purchase. This move is expected to bolster the airport’s potential for future expansion and growth. The proposed strip of land lies just south of the runway and is estimated to carry a price tag of around $2 million.

A Collaborative Effort

A major win for the area, the funding for this purchase will be shared between grant funds and contributions from the city and county governments that have ownership stakes in the airport. Recently, the selectmen from West Point were the last piece of the puzzle to give their thumbs up, completing the necessary endorsement for the deal.

Just the day before, Lowndes County supervisors met and officially approved their share of the funding, while other stakeholders—including Starkville, Columbus, and various counties—have expressed their commitment over the past few weeks. The collaboration among the municipalities and counties is a testament to their shared vision for economic growth.

Room to Grow

This expansion project includes acquiring a total of 109 acres. The potential here is significant, as it would not only allow existing aerospace companies, such as Stark Aerospace, Aurora Flight Services, and Airbus Helicopters, to expand operations but also attract new businesses to set up shop in the region.

Betsy Young, who plays a key role in economic development for the Golden Triangle Development LINK, emphasized the necessity of this land acquisition for sustainable growth. The new property consists of two parcels situated between the southern end of the runway and Airport Road, currently owned by Ropp Family Enterprises, hailing from Palmer, Arkansas.

Breaking Down the Costs

Initially, the intended financial structure involved all stakeholders contributing towards a conventional loan that would be repaid over a decade. The breakdown of contributions is as follows:

Lowndes County and Columbus, each contributing 25%, would pay $37,500 annually.
Oktibbeha County and Starkville, each at 20%, would contribute $30,000 annually.
Clay County and West Point, each at 5%, would pay a modest $7,500 annually.

Lowndes County Administrator Jay Fisher indicated that the scheduled cut of $275,000 could be managed through interest earnings associated with the American Rescue Plan Act or additional revenue stemming from Tennessee Valley Authority payments. In an effort to be financially savvy, Columbus, Lowndes County, and West Point decided to pay their shares upfront, aiming to save on interest costs and potentially secure better loan terms for the airport.

What Happens Next?

Meanwhile, Starkville, Oktibbeha County, and Clay County will follow suit by contributing over the ensuing ten years. In the unfortunate event that the purchase agreement does not go through, the GTRA has pledged to return funds to all stakeholders involved.

With all stakeholders backing the land purchase, the Golden Triangle Regional Airport is set on a path toward a promising future. This strategic land acquisition is a vital step that reflects the community’s comprehensive efforts toward growth and partnership.