Florida tempts Piper to stay

AINonline
June 9, 2008, 6:20 AM

Piper Aircraft has until June 30 to decide whether it will remain in Vero Beach, Fla. An April 28 Indian River County budget resolution approved $12 million to keep Piper Aircraft at its present headquarters, and the state of Florida added another $20 million. To receive the funds, Piper would have to agree to design, develop, produce and assemble the new single-engine PiperJet in Vero Beach and execute an affidavit confirming that it has orders for at least 75 copies of the jet secured by $5 million worth of deposits. A Piper spokesman told AIN that CEO Jim Bass will recommend the $32 million agreement to Piper’s board of directors.

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