Equity Fund - Cartersville-Bartow Airport Authority, New Hangars
In March 2008 OneGeorgia awarded an Equity loan of $500,000 to the Cartersville-Bartow Airport Authority to assist with the construction of 30 T-hangars at the Level III Cartersville-Bartow Regional Airport. Currently the airport houses 120 private permanently-based aircraft spread among 60 T-hangars, 50 tie-downs and corporate hangars. There are currently no vacancies for T-hangar space and a waiting list of 100. The new hangars will add economic development capacity, meet an airport need, generate new taxes and encourage tourism. The Airport is ranked by the DOT as the 7th highest in economic activity compared with all 94 general aviation airports in Georgia. Shaw Industries and Anheuser-Busch use the Airport regularly to fly executives in and out for meetings. Georgia Power bases its aerial patrols and resource management there. Phoenix Air Group, a worldwide airline services company and fixed based operator at the airport, will handle the rental of the hangars. The company provides many services including electronic warfare training to militaries; air charter, fuel, and advanced flight school services. The total Project Cost was estimated at $1,486,535 with Public Investment estimated at $986,535.
Thirty new hangars later along with an additional two hundred twelve thousand dollars in local investment, and the Cartersville-Bartow County airport still has a waiting list of ninety-plus for hangar space. Even with the downturn in the economy, one job was saved, and the revenue associated with the rental of the additional thirty T-hangars has added approximately $1.3 million to the local tax base.