Sales

Midcoast Heading To St Louis Airport

Corporate jet companies are all riding a wave of success and expansion these days, and Midcoast Jets is no exception. The private jet refurbisher has plans to build its biggest hanger yet at the St Louis airport, and add 200 more jobs to its staff roster.

The 17.5 million dollar expansion will allow the company to handle larger planes than it currently can. The new hanger could even accommodate a Boeing 747.

The company has seen its revenue climbing annually by more than 20% and 2006 revenues were reported at more than 200 million dollars. The company was bought last year by the Swiss aviation firm Jet Aviation, and currently employs 1100 workers.

Vice Chairman Gary Driggers said, "Business has been very good, and the skyline for business looks even better," Driggers said.

Growth in developing countries is fueling the private jet market, as well as a currently strong North American economy. Many large companies have also decided that the increase in efficiency justifies the cost of private jet ownership, and have added aircraft to their corporate assets. There were 886 private jets delivered to market last year, compared with only 518 in 2003.

With all these new planes flooding the market. Business has been great for the mid-west company that handles painting the exteriors and refurbishing the interiors to the unique specifications of each individual client.
 
The opening is great news for the St. Louis economy, as these jobs are relatively high paying, with the average new worker set to earn more than $50 000 per year. St Louis is feeling fortunate; knowing that these jobs could easily have went to Arizona, the other location that had been in consideration by the aviation firm.