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Good economic news for Stafford Regional Airport Date published: 4/13/2010
BY JONAS BEALS After a particularly trying financial year, it appears that Stafford Regional Airport might be headed toward profitability. During a Board of Supervisors budget work session last week, Airport Authority Chairman Hank Scharpenberg said the airport will decrease the operating subsidy it needs from its three supporting localities: Fredericksburg, Stafford County and Prince William County. "I'm ecstatic," airport manager Ed Wallis said. "We're headed toward self-sufficiency." In the past year, hangar rentals have doubled at the airport. Of the 40 hangars, only three remain empty. Wallis attributes the turnaround to the supervisors, who voted last year to essentially eliminate the personal-property tax on aircraft. Each year, the three member localities have shared a prorated burden of the airport's operating costs. Stafford paid $114,285 this fiscal year, but will be asked to pay only $85,214 in the upcoming fiscal year. That figure is subject to change, but is a significant improvement over last year, when the airport also requested a moral-obligation loan of $235,000 from Stafford in addition to the operating subsidy. Supervisors and Airport Authority members all think the recent news is a sign that things are on the right path. "It's almost unbelievable," Supervisor Paul Milde said. The airport makes money by renting hangars, selling fuel and leasing space for companies and agencies to build their own hangars. While corporate hangars are the biggest cash prize for the facility, eliminating the airplane tax has not yet brought in that development. But Wallis said it is close. "We've had interest from several organizations," he said. "They're taking a wait-and-see approach on the tax rate." Scharpenberg said that consistently low tax rates and a continued demonstration of support from the Board of Supervisors will bring those businesses to the airport. "The private owners are flexible enough to flock to the best available target, and they've already voted," he said. "Now we want to turn into the economic engine we're supposed to be." Jonas Beals: 540/368-5036
How much Stafford County revenue has been lost by "essentially eliminat(ing) the personal-property tax on aircraft"? Until the airport generates a "profit" higher than that amount, it's operating in the red. We've had enough shell games at the federal and state levels; don't try to do it to us at the local level too!
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