Excel-Jet Still Looking for a Place To Roost

AINalerts » October 11, 2007
October 11, 2007, 12:05 PM

If at first you don’t succeed, try, try again. Start-up VLJ developer Excel-Jet is taking this saying to heart as it attempts to move its headquarters in exchange for local government financial support. Nearly two years ago, the Monument, Colo.-based company said it was moving to Guthrie, Okla., to take advantage of a $3 to $5 million incentive package from local and state resources. That deal apparently fell through, and the crash of Excel-Jet’s single-engine Sport-Jet prototype in June last year sidelined its efforts to find a new home. Now the company is house-hunting again and has its sights on Chennault International Airport in Lake Charles, La.–if it gets $1 million in local incentives and a hangar built courtesy of taxpayers. Excel-Jet could have an additional $10 million windfall from state bonds and additional money from Louisiana’s economic development office. Excel-Jet told local officials that it could be ready to start work in Lake Charles within 30 days.

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