A Florida-based aircraft and aerospace maintenance company is creating more than 100 “high-paying” jobs for Kentucky residents by expanding its presence at the Cincinnati/Northern Kentucky International Airport, officials said.
F&E Aircraft Maintenance is making a $40.2 million investment in Northern Kentucky via a 150,000-square-foot, three-bay hangar at CVG, creating 250 full-time positions, according to a release from Gov. Andy Beshear’s office.
Construction work on the hangar is slated to begin in June and the project will be completed by the end of 2023, officials said. It will house Boeing 767 aircraft.
Officials said the development will be comprised of 15,000 square feet of back shop space, 5,000 square feet of office space and 175,000 square feet of ramp access.
On Thursday, the Kentucky Economic Development Finance Authority approved a 10-year incentive agreement with the company, which could provide up to $1.75 million in tax incentives, officials said.
As part of that agreement, the company needs to reach annual targets of creating and maintaining 124 positions for Kentucky residents across 10 years, paying average hourly wages of $38.50 including benefits, the release states.
“We continue to see existing Kentucky businesses grow and create quality jobs throughout the state, and FEAM AERO is the latest example of a company with a vision for the future in the commonwealth,” Beshear said in a statement. “These well-paying positions will benefit well over 100 Kentucky families while also improving support for two of our major air hubs at CVG Airport.”
According to the release, the project will create aircraft mechanics and technicians, ground support equipment mechanics, administrative personnel and management jobs.
The new hangar will provide adequate maintenance space and resources “for its growing airline customer base in support of cargo operations such as Amazon and DHL,” the release states.
Officials said the company currently employs 300 workers at CVG.
“They have been a terrific partner in which we share a vision to further develop needed infrastructure and services to support continued growth of cargo carriers at CVG,” Candace McGraw, the airport’s CEO, said in a statement.
“The airport’s current strategic plan outlines the transformational impact we can make for our region, and this project does just that through job creation and capacity building to grow and diversify cargo operations,” she said.
This article originally appeared on Cincinnati Enquirer: NKY jobs: Company to create 124 employment opportunities at CVG