Google has recently spent a staggering amount of $82 million to fund its newest ultra modern jet facility for the company's personally chartered jets. The Google complex will essentially become the world’s largest single-client corporate air centers.
The jet facility occupies a 29 acre site, with a total of 270,000 square feet that will be dedicated to the hangar space. The massive area will essentially become a private and separate airport for high level Google executives, clients and other higher level employees. This means that a chunk of San Jose’s airport will be given to the corporate giant, adding up to $150 million in total, for the airport in the near future.
The world-class private aviation support firm Signature Flight Support will work in conjunction with leasing company Blue City Holdings San Jose to operate the airport facility.
In addition to providing transportation for Google executives, the space will create "36 permanent jobs, generate 370 direct and indirect jobs, and eventually generate more than $300,000 in taxes annually, over and above the $3 million annual lease cost."
$82 Million Jet Facilities
Google Executives Get a Separate Airport with Chartered Jets
Trend Themes
1. $82 Million Jet Facilities - The trend of creating separate jet facilities for large corporations is on the rise, providing opportunities for private aviation support firms and leasing companies.
2. Corporate Air Centers - Businesses are investing in their own private airports and hangars, disrupting the traditional model of relying on public airports and creating opportunities for construction and management firms.
3. Personalized Transportation for Executives - The demand for personalized and convenient transportation options for high-level executives is increasing, creating opportunities for luxury transportation companies.
Industry Implications
1. Private Aviation Support Firms - The rise in demand for separate jet facilities for large corporations presents a significant opportunity for private aviation support firms to expand their operations and services.
2. Leasing Companies - As more businesses invest in their own private airports and hangars, there is a growing opportunity for leasing companies to provide financing and management services for these facilities.
3. Construction and Management Firms - The trend towards creating corporate air centers provides opportunities for construction and management firms to build and oversee these private airports and hangars.