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Council hears business plan to make Chesapeake Regional Airport more financially self-sustaining
Summary
Consultants presented an economic-impact and financial feasibility study for Chesapeake Regional Airport (CPK), estimating 194 total jobs and $21.4M in annual economic output and proposing revenue strategies including staged T-hangar rate increases, ground leases, and corporate hangars; the city manager recommended releasing remaining funds to support plan implementation and monitoring progress during the next budget cycle.
Consultants engaged by the Chesapeake Regional Airport Authority presented an economic impact and financial feasibility analysis at a city work session and asked council to support continued funding to implement short-term revenue strategies.
Preston Wilhelm, Deputy Director of Economic Development, introduced Mark Kochenour of Wolpert and Randall Wiedemann of Wiedemann & Associates. Kochenour summarized operations: the airport has roughly 123 based aircraft, an estimated 50,000 recorded operations and a full parallel taxiway, T-hangars with a waiting list, and major maintenance and fixed-based operations that attract work…
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