The commissioners of The Port Authority of New York and New Jersey, which owns and operates New York Stewart International Airport (SWF) today voted approval for leases that will allow the construction of what likely will be 15 new corporate jet hangars representing a new private investment at the airport of $119 million. It is expected there will be 13 new hangars totaling 182,000 square feet to be built by a consortium composed of Sky Harbour, LLC, MJJ Builders, Corp., and Passero Associates. Aviation Facilities Company Management, LLC will construct two hangars totaling 125,000 square feet.
News of the deal for the new hangar construction came from The Orange County Partnership, which has been active in advocating for economic development, job creation, and investment at SWF along with the Port Authority.
The Port Authority said that the developers have indicated that the new leases will help create an estimated 245 permanent private-sector jobs in the region, as well as 260 jobs stemming from the construction of the proposed facilities. In keeping with what the Port Authority said is its commitment to driving diversity and local economic opportunities, the leases include ambitious goals to involve local businesses, minority and women-owned business enterprises (MWBE) and service-disabled veteran-owned businesses (SDVOB). The leases also require the tenants to align with the Port Authority’s sustainability goals, which include construction of facilities that meet or exceed current industry-leading building energy efficiency standards and achieve net-zero emissions by 2050.
“New York Stewart is unique among the Port Authority’s airports since it has the capacity and flexibility to meet demand for general aviation use that is not the focus of our major airports,” said Port Authority Executive Director Rick Cotton. “The vote today approving two facilities to support general aviation shows that the Port Authority is responsive to the changing needs of the region’s business community, and that New York Stewart will be a significant part of increasing the region’s economic vitality.”
Maureen Halahan, president and CEO of the Orange County Partnership said, “The Port Authority’s investment in New York Stewart International Airport is an investment in our future, creating jobs and new opportunities throughout the region. This will be a catalyst for economic development projects at SWF for many years to come.”
The Orange County Partnership points out that corporate and other general aviation activity has steadily increased in the New York market, positioning SWF as a viable location for corporate jet hangar site selection.
In its resolution giving a go-ahead to the new hangars, the Port Authority noted that during the Covid-19 pandemic corporate jet activity accelerated. In 2021, corporate jet flights increased by 14% globally, compared with 2019. In 2022, activity increased 10% compared with 2021.
Orange County Executive Steve Neuhaus said, “Supporting economic development at New York Stewart International Airport has been one of my top priorities as county executive. SWF is a community and economic gem in Orange County, a key asset for traveling families and corporate business alike.”
Lease execution is expected in the fall of this year, with operations of the new facilities expected to begin in 2028.
