State and city officials will be on hand for a ribbon cutting and grand opening celebration Monday for SkyWest Airlines' new 135,000-square-foot maintenance hangar at the Boise Airport.
The $20 million project broke ground in October 2014 and company officials have promised up to 100 high-wage jobs. SkyWest officials said average yearly wages will be $52,000.
Skywest will reap the benefit of a 25 percent reimbursement in state taxes for the first 12 years of operations, in an unprecedented deal approved by the Idaho Legislature earlier this year.
Meanwhile, the Boise City Council will be asked to sign off on a lease-to-own deal for the facility at its Tuesday, Aug. 25 regular meeting. In effect, the city of Boise is purchasing the maintenance hangar and all of its improvements from SkyWest for $18.5 million. SkyWest will then pay annual rent of $1.2million to the city. The lease is for 25 years, but a clause allows SkyWest to terminate the deal after the 12th year and pay off the unamortized portion of the hangar's purchase price as a lump sum payment.