Atlantic County Receives $3M Grant for New Aviation Park Building
A large amount of funding for another building at the National Aviation Research and Technology Park (NARTP) in Egg Harbor Township has been secured.
Atlantic County Executive Dennis Levinson says the county has been awarded a $3 million USEDA grant toward construction of a planned two-story, 40,000-square foot research office building that will be home to at least three aviation technology companies.
The estimated cost of the new building is $11 million. Once complete, an additional 165 technology-based jobs will be created.
In a press release, Levinson said, "This project will help strengthen Atlantic County’s growing aviation cluster, attract additional investment, and help bring much needed diversification to the regional economy."
He continued, "Atlantic County has played a key role in the advancement of the NARTP because we recognized the potential of aviation as an economic catalyst and the need to broaden our economy and become less dependent on tourism and gaming alone. As home to the world’s finest aviation testing and certification labs at the FAA Tech Center and the adjoining Atlantic City International Airport, this area has much to offer and companies are clearly beginning to recognize this."
The Atlantic County Improvement Authority (ACIA) applied for the grant on behalf of the county and they will construct the new building and lease it to an opportunity zone investment group that will provide the rest of the financing. That investment group will then operate and manage the building.
Officials say the land for the new building has already been cleared and the process for surveying and permitting is underway. An official groundbreaking is expected before the end of the year.