· Context
City Council approves $8 million AEDC incentive and 30-acre conveyance for Albers Aerospace, 4-0
At the same meeting the council voted 4-0 to approve an AEDC location incentive agreement with Unmanned Systems, Inc. (Albers Aerospace) providing $8 million in two installments (half within 30 days of approval and half after one year) and conveyance of 30 acres valued at $1,800,000, and a 10-year, 100% tax abatement. The AEDC board had given preliminary approval on July 25, 2022.[1][2][3]
Kevin CarterFreda PowellEddy SauerHoward SmithCole StanleyAmarillo Economic Development Corporation (AEDC)Albers Aerospace (Unmanned Systems, Inc.)
What the sources say
- ✓ Verified
On August 2, 2022 the council voted 4-0 to approve an AEDC location incentive agreement with Unmanned Systems, Inc. (Nevada), doing business as Albers Aerospace, providing $8 million for full-time jobs in two installments (half within 30 days of approval, half after one year) and conveyance of 30 acres valued at $1,800,000, and 4-0 on a 100% tax abatement for 10 years. [1][2]
- Job incentive
- $8,000,000
- Acres conveyed
- 30
- Land value
- $1,800,000
- Abatement
- 100%
- Abatement years
- 10
- ✓ Verified
Reported projections (not results): a $50 million facility, 400 jobs at an average salary of $100,000, and more than $1.5 billion in economic impact over 20 years; two hangars leased from the AEDC with partial lease forgiveness if goals are met. The Globe-News said Albers was still considering Amarillo at the time. [2][3]
- Projected investment
- $50,000,000
- Projected jobs
- 400
- ✓ Verified
The AEDC's January 31, 2025 project report lists 'Unmanned Systems, Inc dba Albers Aerospace' with an original project amount of $58,000,000, $8,000,000 paid in prior years, $20,000,000 budgeted for the year and $30,000,000 in future commitments. The report does not say what the amount beyond the $8 million job incentive covers. [4]
- Original project
- $58,000,000
- Prior payments
- $8,000,000