by Christopher Freeburn | February 8, 2013 12:41 pm
Many companies have fleets of corporate jets. But few have their own private airports.
A panel of San Jose, Calif., officials is evaluating proposals to build a private airport exclusively for use by Google (NASDAQ:GOOG) executives on 29 acres on the western side of the Mineta San Jose International Airport, CBS News notes.
Submitted by Britain’s Signature Aviation, the new airport would cost $82 million and features a 17,000-square-foot terminal and a 66.000 square-foot hangar. The proposal also includes a 33,000-square-foot office building with retails shops.
Backers of the project say it would create 376 jobs for the area and generate revenue of $2.6 million a year for the city.
The airport would be operated by a partnership of Signature and Blue City Holdings San Jose LLC, which would lease the private airport from the city for 50 years. Blue City manages planes owned by Google.
Shares of Google rose about 1% in Friday midday trading.
Source URL: http://investorplace.com/2013/02/google-plans-its-own-private-82m-airport/
Short URL: http://invstplc.com/1fsM8G3
Copyright ©2016 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.