GARY — The Gary/Chicago International Airport Authority today unanimously approved development and management agreements to dramatically improve the economic landscape of the airport, the City of Gary and Northwest Indiana.
The agreements constitute a $100 million total investment in the airport and the City of Gary over 40 years by world class companies, and include an investment of $25 million in the first three years and a $300,000 investment in workforce development as well as performance incentives for revenue growth and profit sharing with the airport and the City of Gary.
“The decision to move forward with the Public Private Partnership shows great insight and forward thinking on the part of the airport board,” said Mayor Karen Freeman-Wilson. “I have always maintained that the completion of the runway expansion without a viable plan for moving forward would be an exercise in futility. The P3 is a monumental opportunity for the airport and its surrounding footprint to be developed, creating sustainable opportunities for the city of Gary, its businesses and citizens as well as surrounding communities.”
