A move by Hicks and Lawrence Ltd. to Dryden Regional Airport has the potential to generate over $1.15 million in economic benefits to Drdyen and the air station, an official with the Dryden airport says.
The company, which has been a 14-year tenant at the airport, is planning to relocate its main operations base from southern Ontario to Dryden.
The relocation would involve the construction of a new hanger area, as well as a training centre. It would allow the company to maintain and operate all of its aircraft in Dryden, as well as any administrational duties.
Flight training would be located at the Dryden airport, with 50 pilots an office manager to oversee the operation, office clerk, four engineers, and two apprentices on site.
An official with the airport notes the financial spin offs from the relocation as follows:
• leasing of the airside lot could bring in $6,800 in annual revenues.
• flight training for people will increase fuel sales
• the construction of the buildings required by Hicks & Lawrence
• benefits to having a major training facility on the Dryden airport grounds
The company is requiring $300,000 from the city to guarantee its “Put Option” agreement. A lien for the same amount would be registered on the building.
Mayor Sid Wintle views the expansions and the investment as being good for the city and the airport.
