Albany, NY (November 7, 2003) - - - Rev. Michael A. Farano, Chairman of the Albany County Airport Authority today announced the Albany International Airport will embark on a new Economic Development Program designed to attract new tenants to existing Airport structures and land parcels and to enhance Airport services and revenue. The program will also seek to develop new air service and promote tourism, business and economic development that will have a positive impact on the Airport’s future growth.

"The timing of this initiative is most appropriate given the availability of existing buildings and 'shovel ready' sites at the Airport and the encouraging rebound of the nation’s economy," said Rev. Farano. "The Airport will also work closely with regional business leaders and economic development agencies to identify and develop the Airport’s contribution and participation in their programs to attract new regional business development and to retain current businesses and their workforces."

The new program will also coordinate research, marketing activities and related projects designed to develop a comprehensive air service marketing program that will encourage growth in passenger, cargo and general aviation, including corporate aircraft services at the Airport. One key initiative will be to analyze the air cargo industry and implement an air cargo development plan with liaisons with regional manufacturers, cargo agents, freight forwarders, brokers and related government officials.

The Airport currently has 100 acres of property available for development. Possible uses of the property include new facilities for aircraft maintenance, corporate aircraft headquarters, and aircraft-related manufacturing. The Airport Authority is prepared to build and lease facilities to meet the requirements of new Airport tenants. The Authority also owns and operates the Airport Industrial Park on Sicker Road which is currently undergoing infrastructure upgrades including new sewer and water service.

"The Albany International Airport is a state-of-the-art gateway to our community, creating a favorable first impression on all who pass through,” said Albany County Executive Michael Breslin. "The resources in and around the airport are invaluable tools for economic development and job creation. It has tremendous potential for wide-ranging aviation related growth."

To establish the program the Airport will hire a Strategic Business & Economic Development Manager who will work with management to develop a long-range Strategic Business Plan that will include formulating specific airline marketing and land development programs for implementation.

The Albany International Airport covers nearly 1,200 acres in the Town of Colonie and is operated by the Albany County Airport Authority under a 40-year lease with Albany County. The Airport serves as the major air center for the Capital Region, Northeastern New York and Western New England. The Airport is served by 13 commercial airlines and eight cargo handlers including Airborne, Federal Express and UPS.

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