900 JOBS EXPECTED
Laurentian Aerospace Corp. announced plans in 2006 for a 273,000-square-foot, two-bay hangar to be built at Plattsburgh International Airport. They planned to be in operation by April 2008 but had difficulty securing a lead investor, a task that became more challenging when the Great Recession hit in 2008.
Last week, Laurentian officials announced that Verdant CapitalGroup will invest, alongside the management group, the capital required to allow Laurentian to move forward. The $175 million project will supply state-of-the-art maintenance, repair and overhaul to wide-body aircraft at Plattsburgh International Airport.
Construction is expected to start April 1 — as long as there are no financial obstacles — and is slated to take about 18 months.
The company plans to start out with 200 to 300 jobs, though the exact number will be based on contracts with airlines and employee training. Roughly 900 jobs are expected to be created by the time construction is finished.
Laurentian has communicated with all major North American airlines and received significant interest from most. Its site has plenty of room for expansion.