PRESS RELEASE
NetJets Inc. to Expand in Ohio: World-class campus to be built adjacent to Port Columbus as company seeks Ohio’s best and brightest, partners with Ohio State and begins aviation cluster
NetJets Inc. to Expand in Ohio: World-class campus to be built adjacent to Port Columbus as company seeks Ohio’s best and brightest, partners with Ohio State and begins aviation cluster
COLUMBUS, OH (March 12, 2008) – Ohio Governor Ted Strickland, Lieutenant Governor Lee Fisher and Columbus Mayor Michael B. Coleman today joined NetJets Inc. Chairman and CEO Richard T. Santulli, Ohio business leaders and hundreds of guests at the company’s hangar to announce that NetJets and FlightSafety International have chosen Columbus, Ohio as the site for a major expansion that will create at least 810 new jobs and more than double the size of FlightSafety, thereby creating the largest flight training facility in the world.
For NetJets, this decision brings with it a bold vision for the future of Ohio’s aeronautical industry, as championed by the Governor, Lt. Governor and Mayor. First, the company will construct an over $200 million world-class campus in order to draw the best and brightest talent from across the nation and help initiate a growing aeronautical cluster at Port Columbus International Airport. Second, NetJets will embark on an unprecedented partnership with The Ohio State University to attract college graduates, solve real world business problems and develop existing talent in Ohio. Third, the company has decided to take a leadership role in Ohio, including support for community and environmental initiatives.
"NetJets is already a worldwide leader in private jet aviation, and I am proud they are making such a huge investment in their future right here in Ohio. This news speaks volumes about Ohio's positive business environment as well as Ohio’s colleges and universities," said Governor Strickland. “The partnerships among academic and business leaders, particularly Dr. Gee and The Ohio State University, are sure to help NetJets continue to be successful in Ohio and, together, allow us to achieve our ambitious plan for a vibrant and growing aeronautical industry."
NetJets fractional aircraft ownership allows individuals and companies to buy a share of a private business jet at a fraction of the cost of whole aircraft ownership. NetJets Inc. also offers aircraft management, charter management and on-demand charter services through its subsidiary, Executive Jet Management. NetJets began in 1964 as the first jet aircraft charter company. Richard T. Santulli invented the concept of fractional ownership in 1986.
The market for fractional aircraft ownership is growing quickly. Over the past ten years, the total number of owner shares has grown from approximately 1,500 to over 7,000 expected this year. On average, the market has grown by 8.5% annually.
For the last two years, NetJets’ market share has been ~70 percent based on net value of aircraft sold and leased. NetJets has flown more flights than all of its competitors combined and manages more than 390,000 flights annually. As a Berkshire Hathaway company, NetJets pursues the highest levels of safety, security, comfort, convenience and reliability.
“I am proud of our partnership with the State of Ohio, the City of Columbus and The Ohio State University, as well as the heart of our company, our workforce,” said Richard T. Santulli, Chairman and CEO, NetJets Inc. “Together we have engineered a truly innovative collaboration that not only positions NetJets to continue as the worldwide leader in private aviation, but more importantly makes NetJets and FlightSafety International the cornerstone of Ohio’s effort to become the aviation innovation capital of the country.”
FlightSafety is a sister company of NetJets through Berkshire Hathaway and is the world’s largest provider of aviation training, educating more than 75,000 pilots annually across 43 Learning Centers in the United States, Canada, France and the United Kingdom.
Over the coming years, NetJets and FlightSafety will grow from a campus of approximately 19 acres to potentially over 120 acres, investing over $200 million, while retaining 2,022 positions in central Ohio and adding at least 810 high-wage jobs. FlightSafety will more than double the number of its existing simulators, creating its largest concentration of simulators in the country and attracting large numbers of pilots on a daily basis from outside Ohio for training. These simulators will support NetJets’ commitment to have the best-trained flight crews in the world while also helping to train other national aviation companies’ personnel.
“We have worked hard to build this winning partnership with NetJets and Governor Strickland’s team, and I believe the company’s decision to grow and invest in Columbus will be a catalyst for job growth that benefits us for years to come,” said Mayor Coleman. “We are committed to NetJets’ long-term success and to the elevation of the aviation industry in the Port Columbus area. I am confident that our growth package will pay off with many new jobs for our community.”
The State of Ohio, City of Columbus, Franklin County, and the Columbus Regional Airport Authority have offered a combined growth package that includes workforce development, job credits, tax abatements and other direct assistance valued at $67.6 million, including $37.4 million from the state, $22 million from the city and county, and $8.2 million from the airport. These figures do not include approximately $30 million in incentives related to area site improvements, loans and marketing.
“We want to thank all of our partners who were instrumental in bringing the resources to the table that were fundamental to this project, and help us build upon Ohio’s aviation cluster. Most importantly, we want to thank NetJets, which challenged us to put together a partnership to accomplish what no one party could achieve alone,” said Lt. Governor Fisher, who also serves as the Director of the Ohio Department of Development. “They challenged us to build a partnership that would align our educational institutions with their efforts to attract the best talent in the country. Recognizing the great importance of NetJets to Columbus, the entire team joined in the name of a vision and a plan that will move NetJets, our state and our community forward."
In 2007, NetJets worldwide…
About NetJets
NetJets Inc., a Berkshire Hathaway company, is the worldwide leader in private aviation and provides the safest and most secure private aviation solutions. NetJets fractional aircraft ownership allows individuals and companies to buy a share of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours’ notice. The NetJets programs worldwide offer the largest and most diversified fleet in private aviation, which includes 15 of the most popular business jets in the world. Access to the NetJets fleet is also available in the form of a short-term lease, sold on an all-inclusive, pre-paid basis in 25-hour increments, through an exclusive alliance with Marquis Jet Partners. NetJets Inc. also offers aircraft management, charter management, and on-demand charter services through its subsidiary, Executive Jet Management. More information on NetJets, the Marquis Jet Program, and Executive Jet Management is available at www.netjets.com.
Contact:
Maryann Aarseth
NetJets Inc.
Vice President, Corporate Communications
Tel: 732-326-3735
maarseth@netjets.com
For NetJets, this decision brings with it a bold vision for the future of Ohio’s aeronautical industry, as championed by the Governor, Lt. Governor and Mayor. First, the company will construct an over $200 million world-class campus in order to draw the best and brightest talent from across the nation and help initiate a growing aeronautical cluster at Port Columbus International Airport. Second, NetJets will embark on an unprecedented partnership with The Ohio State University to attract college graduates, solve real world business problems and develop existing talent in Ohio. Third, the company has decided to take a leadership role in Ohio, including support for community and environmental initiatives.
"NetJets is already a worldwide leader in private jet aviation, and I am proud they are making such a huge investment in their future right here in Ohio. This news speaks volumes about Ohio's positive business environment as well as Ohio’s colleges and universities," said Governor Strickland. “The partnerships among academic and business leaders, particularly Dr. Gee and The Ohio State University, are sure to help NetJets continue to be successful in Ohio and, together, allow us to achieve our ambitious plan for a vibrant and growing aeronautical industry."
NetJets fractional aircraft ownership allows individuals and companies to buy a share of a private business jet at a fraction of the cost of whole aircraft ownership. NetJets Inc. also offers aircraft management, charter management and on-demand charter services through its subsidiary, Executive Jet Management. NetJets began in 1964 as the first jet aircraft charter company. Richard T. Santulli invented the concept of fractional ownership in 1986.
The market for fractional aircraft ownership is growing quickly. Over the past ten years, the total number of owner shares has grown from approximately 1,500 to over 7,000 expected this year. On average, the market has grown by 8.5% annually.
For the last two years, NetJets’ market share has been ~70 percent based on net value of aircraft sold and leased. NetJets has flown more flights than all of its competitors combined and manages more than 390,000 flights annually. As a Berkshire Hathaway company, NetJets pursues the highest levels of safety, security, comfort, convenience and reliability.
“I am proud of our partnership with the State of Ohio, the City of Columbus and The Ohio State University, as well as the heart of our company, our workforce,” said Richard T. Santulli, Chairman and CEO, NetJets Inc. “Together we have engineered a truly innovative collaboration that not only positions NetJets to continue as the worldwide leader in private aviation, but more importantly makes NetJets and FlightSafety International the cornerstone of Ohio’s effort to become the aviation innovation capital of the country.”
FlightSafety is a sister company of NetJets through Berkshire Hathaway and is the world’s largest provider of aviation training, educating more than 75,000 pilots annually across 43 Learning Centers in the United States, Canada, France and the United Kingdom.
Over the coming years, NetJets and FlightSafety will grow from a campus of approximately 19 acres to potentially over 120 acres, investing over $200 million, while retaining 2,022 positions in central Ohio and adding at least 810 high-wage jobs. FlightSafety will more than double the number of its existing simulators, creating its largest concentration of simulators in the country and attracting large numbers of pilots on a daily basis from outside Ohio for training. These simulators will support NetJets’ commitment to have the best-trained flight crews in the world while also helping to train other national aviation companies’ personnel.
“We have worked hard to build this winning partnership with NetJets and Governor Strickland’s team, and I believe the company’s decision to grow and invest in Columbus will be a catalyst for job growth that benefits us for years to come,” said Mayor Coleman. “We are committed to NetJets’ long-term success and to the elevation of the aviation industry in the Port Columbus area. I am confident that our growth package will pay off with many new jobs for our community.”
The State of Ohio, City of Columbus, Franklin County, and the Columbus Regional Airport Authority have offered a combined growth package that includes workforce development, job credits, tax abatements and other direct assistance valued at $67.6 million, including $37.4 million from the state, $22 million from the city and county, and $8.2 million from the airport. These figures do not include approximately $30 million in incentives related to area site improvements, loans and marketing.
“We want to thank all of our partners who were instrumental in bringing the resources to the table that were fundamental to this project, and help us build upon Ohio’s aviation cluster. Most importantly, we want to thank NetJets, which challenged us to put together a partnership to accomplish what no one party could achieve alone,” said Lt. Governor Fisher, who also serves as the Director of the Ohio Department of Development. “They challenged us to build a partnership that would align our educational institutions with their efforts to attract the best talent in the country. Recognizing the great importance of NetJets to Columbus, the entire team joined in the name of a vision and a plan that will move NetJets, our state and our community forward."
In 2007, NetJets worldwide…
- Flew over 390,000 flights, 237,000,000 miles to more than 173 countries
- Employed nearly 7,300 worldwide (3,957 pilots, 400 flight attendants)
- Spent over $34 million on catering
- Arranged more than 100,000 cars and limos
- Landed at over 1,500 airports
- Spent $66 million on pilot training at FlightSafety International
- Required over 1.8 million maintenance work hours
About NetJets
NetJets Inc., a Berkshire Hathaway company, is the worldwide leader in private aviation and provides the safest and most secure private aviation solutions. NetJets fractional aircraft ownership allows individuals and companies to buy a share of a private business jet at a fraction of the cost of whole aircraft ownership, and guarantees availability 365 days a year with just a few hours’ notice. The NetJets programs worldwide offer the largest and most diversified fleet in private aviation, which includes 15 of the most popular business jets in the world. Access to the NetJets fleet is also available in the form of a short-term lease, sold on an all-inclusive, pre-paid basis in 25-hour increments, through an exclusive alliance with Marquis Jet Partners. NetJets Inc. also offers aircraft management, charter management, and on-demand charter services through its subsidiary, Executive Jet Management. More information on NetJets, the Marquis Jet Program, and Executive Jet Management is available at www.netjets.com.
Contact:
Maryann Aarseth
NetJets Inc.
Vice President, Corporate Communications
Tel: 732-326-3735
maarseth@netjets.com
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