Burlington City Council

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February 21st

• What it takes for Burlington to invest 2.2 million

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Project SkyKing

Southwest Burlington | 1.24 Acres

LabCorp is cleared for flight. The Burlington-founded company can now construct a privately owned, new 54,000 square foot aviation center that will include a hangar for aircraft storage, a maintenance facility, offices, a conference room, a parts room, and other amenities.

This new facility will be twice as large, will allow them to store more aircraft, expand aviation operations, and put all of the current aviation activities within one building in one area of the airport. It means leasing an approximately seven-acre plot of land on NC 62, just south of the NC Air Patrol building adjacent to the airport.

But how will this happen?

This initiative will involve a $71 million investment in real and personal property within the city of Burlington. The total capital investment, for both the Airport Authority and LabCorp, is capped at $2.2 million. From a benefits perspective, this project represents a substantial investment from a locally founded company and an existing industry, with significant potential for return on investment and positive impact.

Labcorp Aviation has a significant economic impact with $33 million in total economic output, $3.9 million in state and local taxes paid, and $7.9 million in total payroll.

What this project accomplishes, in both reality and perception, is solidifying Burlington Alamance Airport as the headquarters of Labor's Aviation Department.

Developer: LabCorp

Staff report

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