The Boeing Company recently signed a lease extension to maintain a presence in Heath, Ohio until October 2021 with an option through the year 2028.
The Heath-Newark-Licking County Port Authority has signed an agreement with Boeing which will extend Boeing’s current lease with the Port Authority for cleanroom and advanced manufacturing space at the Central Ohio Aerospace and Technology Center in Heath through 2021 with an option through 2028.
The lease provides fixed, low lease rates to Boeing and contains no early termination clause, unlike the previous lease extension signed in 2009.
Boeing provides maintenance, repair, and overhaul services for aerospace inertial guidance and navigation systems and radar antennae. Boeing’s presence in Heath dates back to 1996 when it won the contract for the nation’s first privatization-in-place of a military installation--the former Newark Air Force Base.
“We are very pleased to have a long-term lease agreement in place with the Port Authority,” says Ellen Power, Boeing Center Director and Heath Site Executive. “This agreement will position Boeing for future work opportunities, and will enhance our commitment to the Heath community.”
Boeing is among the largest manufacturers in Licking County and Central Ohio. Boeing leases the main building at COATC and is the anchor to the Port Authority’s Aerospace Center campus. Combined, the aerospace companies on the original Air Force Base campus employ 775 people with an over $60 million annual payroll.
“More than a lease document, this is an extraordinary public-partnership with Boeing that has been a true, national success story,” says Heath-Newark-Licking County Port Authority President and CEO Rick Platt. “Though this long-term commitment to continuing our partnership is certainly great news for Boeing and the Port Authority, I like the future stability that this extension brings to the skilled workforce, the community, and the region.”
The Port Authority owns and manages the Central Ohio Aerospace and Technology Center in Heath and is the largest self-sustaining port authority in Ohio. The Port Authority's ISO 7/Class 10,000 cleanroom space is LEED Certified.
Release Date: September 24, 2013
Source: Heath-Newark-Licking County Port Authority