Port Authority approves two major hangar projects at Stewart Airport

Montgomery. The project is part of a $119 million capital investment.

| 28 May 2024 | 05:02

The Port Authority of New York and New Jersey has approved leases for two corporate jet hangar projects at New York Stewart International Airport totaling over 300,000 square feet of development and $119 million in capital investment, Orange County Partnership announced recently.

Construction of approximately 13 corporate jet hangers will be done by development consortium SWF Development, and Aviation Facilities Company Management will construct two hangars.

According to Orange County Partnership, these hanger projects align with their strategic economic development approach, with a focus on supporting sustainable, high-growth sectors.

A portion of the Port Authority’s approving resolution, is as follows:

”During the COVID-19 pandemic, corporate jet activity rapidly accelerated. In 2021, corporate jet flights increased by 14% globally, compared to 2019. In 2022, activity increased 10%, compared to 2021. As a result of these trends, there is increased demand for new developments to accommodate support facilities for general aviation activity at airports with the necessary land capacity throughout the region. Proximity to major markets, coupled with the increased activity in the aviation sector, has positioned Stewart Airport as an emerging economic driver for Orange County and the Hudson Valley.”

For more information, visit ocpartnership.org, call 84-294-2323 or e-mail Maureen Halahan at maureen@ocpartnership.org