“I’ am confident the parties will reach agreement and in very short order we’ll be moving forward with design, permitting, and constructionthat SJC will be successful in negotiating and executing a 50-year lease with Signature Flight Support, and look forward to the significant investment this award will bring to the Airport, the City of San José, and the region,” said Bill Sherry, Director of Aviation for Mineta San José International Airport. “The redevelopment of the Airport’s West Side, and the added revenue and local jobs Signature will provide are a valuable asset to our community.”Signature’s facility offers major economic benefits to SJC and the Silicon Valley region:
- $2.6 million in annual rent to the Airport;
- A minimum annual guarantee of $400,000 in annual fuel flowage fee revenues to the Airport;
- A minimum annual tax generation guarantee of $70,000 (first year) to $300,000 (year 5 and beyond);
- 150 to 200 on-Airport and regional construction jobs;
- 36 permanent on-Airport jobs; and
- 370 direct and indirect jobs generated.
Signature plans to begin construction in fall 2013.
As part of SJC’s $1.3 billion modernization program, acreage became available for development with the relocation of the Airport’s long-term parking lot to the east side of the Airport. In April 2012, the City Council authorized SJC staff to issue a Request for Proposals for development for any use allowed under the Airport Master Plan.
About Signature Flight Support
Signature Flight Support Corporation, a BBA Aviation plc company, is the world's largest fixed-base operation (FBO) and distribution network for business aviation services which include fueling, hangar and office rentals, ground handling, maintenance and a wide range of crew and passenger amenities at strategic domestic and international locations. Headquartered in Orlando, Florida, Signature Flight Support currently operates at more than 100 locations in the United States, Europe, South America, Africa and Asia. For more information, please visit www.signatureflight.com or on Facebook at www.facebook.com/signatureflightsupport. Follow Signature Flight Support on Twitter: @SignatureFBO.
About Mineta San José International Airport
Mineta San José International Airport (SJC) is Silicon Valley’s Airport, a self-supporting enterprise owned and operated by the City of San José. SJC served 8.3 million passengers in 2012, and offers approximately 120 daily flights on 13 domestic and international carriers to 30 nonstop destinations.
The Airport’s $1.3 billion comprehensive modernization project, completed in 2010, makes SJC the most technologically advanced airport in the nation and the first terminal awarded LEED Silver certification for environmental sustainability. Silicon Valley’s Airport is located in San José, California’s third largest city and the nation’s tenth largest city. For more Airport information, visit www.flysanJosé.com.
JETS will continue to operate its core business of aircraft maintenance, repair and overhaul, while Signature will own and operate the FBO assets.
BBA Aviation Flight Support Appoints Maria Sastre President And COO For Signature Flight Support Corporation
BBA Aviation Flight Support announced today the promotion of Maria Sastre to President and Chief Operating Officer for Signature Flight Support Corporation. In her new role, Sastre is responsible...