Two long-term leases at the Sheridan County Airport Business Park have been approved by Sheridan County commissioners.
According to Airport Manager John Stopka, the airport has signed 40-year leases with Wyoming’s Dynamix Energy Corporation and Connecticut-based Falcon Cars Corporation.
Dynamix will lease two lots totaling just over 1.5 acres to house corporate aircraft and conduct light manufacturing and development of electrical flight systems. Stopka said the company will initially pay $5,000 a year for the first two years, then rent will be increased based on the Wyoming Cost of Living Index for the remainder of the term.
Falcon Cars has leased just over 4.9 acres in the business park and will use the space to conduct light manufacturing on electric flight systems, Stopka said. The company will initially pay $15,000 a year for the first five years, then rent will be increased for the remainder of the term based on the Wyoming Cost of Living Index.
Stopka said the lease agreement with Falcon Cars is based on the company’s ability to successfully register as a company in Wyoming.
Stopka said both leases can be renewed after the initial 40 years with new terms and conditions.
He said the reason the county holds the initial rate for five years is to allow the companies that lease in the business park to get back some of their original investments in the property. He said all of the businesses that locate in the airport business park invest hundreds of thousands or millions of dollars in the property they lease, and all of the improvements made on the property revert to Sheridan County’s ownership after the initial lease term.
The lease with Dynamix starts on March 1 and the lease with Falcon starts on May 1.