EXTRA Aircraft Stories

Apr 15th @ 8:44 am in News by Scott Staley

EXTRA Aircraft logo

MONTROSE – Montrose County is expected to continue lease talks with EXTRA Aircraft today after no deal was agreed upon during yesterday’s closed meeting. The Aircraft Owners and Pilots Association reported last week that EXTRA is possibly considering other places because a lease agreement between Montrose County and the German Airplane Manufacturing Company can’t be agreed upon. EXTRA negotiated a price of 18 cents per square foot to use county-owned buildings, but the county, after missing an April 4th deadline to finalize a lease, responded with a lease of $4.87 per square foot. Errol Bader, the head of corporate development of EXTRA in Denver tells the Daily Sentinel that when the County approached them with that offer, EXTRA felt like they didn’t want them in Montrose, after all. EXTRA announced in July they’d picked Montrose to manufacture private planes.
Source: Daily Sentinel contributed to this story

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An article published online last week by the Aircraft Owners and Pilots Association says that it’s possible EXTRA Aircraft might be looking for a new home, even though it was decided back in July they had chosen Montrose as a location where they’d assemble private carbon fiber planes. A lease agreement has yet to be worked out between Montrose County and EXTRA. Montrose County is holding an executive session meeting tomorrow morning regarding EXTRA Aircraft. It’s possible the lease between the County and EXTRA will be agreed upon at that time. (Posted 12:38p Wednesday April 13, 2011)

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Follow the history of EXTRA in Montrose below; Newest Stories First

http://coloradoradio.com/2011/03/28/extra-loan-delayed/

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http://coloradoradio.com/2011/03/25/extra-loan-discussed-by-medc-and-montrose-county/

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Short-term lease with EXTRA, soon, county says. Montrose County Commissioners hope to have a lease worked out with EXTRA Aircraft sometime next week. This announcement comes one day after public outcry during the County Commissioner’s regular meeting Tuesday. The lease, which must obey FAA rules and regulations, would put the German-based airplane manufacturing company on Montrose Regional Airport property. According to the Daily Press, the county is looking at a short-term lease for the time being, to give the company time to prove itself before the county would consider building a new hangar facility.
Source: Daily Press contributed to this story    (Posted 6:03a Thursday February 24, 2011)

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EXTRA moves one step closer to Montrose. There are a few more hurdles EXTRA Aircraft needs to clear before moving into Montrose; the city chosen to be it’s U.S. Headquarters. Region 10 recently approved the $1 million dollar Community Development Block Grant EXTRA is seeking, which is conditional based on a dollar-for-dollar match. Montrose County tells the Daily Press that as far as their concerned, everything is on hold for the time being. The county approved construction an on-airport facility for EXTRA, a German airplane manufacturing company, and leasing it to the company. The county and EXTRA are still discussing facility design and lease payments.
Source: Daily Press (Posted 7:13a Friday January 7, 2011)

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EXTRA to move into Montrose. While last night’s special Montrose County meeting was to discuss the Boyd Report regarding the due diligence on EXTRA Aircraft, only 5 members of the public had comments or questions. The rest of the meeting was about a new proposal on the table, offers from both, Montrose County and EXTRA. County Commissioner Gary Ellis says details in the proposal need to be hammered out, but ultimately they’ll provide the land and will construct the facility, and EXTRA will lease it from the county. There’s no deadline as of now, but work on the proposal is expected to start immediately. When asked how he feels, after the meeting, EXTRA CEO Ken Keith said he’s “excited and ready to build airplanes!”
(Posted 5:58a Thursday October 14, 2010)

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The Montrose County Commissioners will be back in Montrose on Wednesday night to hold a special meeting regarding the Boyd Report and EXTRA Aircraft. This meeting begins at 7:00p and will be at Friendship Hall at the Montrose County Fairgrounds.
(Posted 6:52a Monday October 11, 2010)

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The Montrose County Board of County Commissioners has made the Boyd Report available at the Montrose County Administration Building. To receive a copy, a public records request form must be completed and $7.25 paid ($0.25 per page x 29 pages).  The Boyd Group is the professional consulting company the county hired to conduct due diligence on Extra Aircraft Manufacturing Company.  A special meeting of the Board will be held next Wednesday, October 13th at 7:00 p.m. in the County’s Board Room to consider the latest proposal from Extra Aircraft.  The public and the media are encouraged to attend.
Source: News Release  (Posted 5:25p by Jim Kapp Thursday October 7, 2010)

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EXTRA threatens litigation. While Montrose County made a promise to their citizens that the due diligence report on EXTRA Aircraft would be made public, EXTRA fears they won’t be able to see the report beforehand. The Daily Press has learned that EXTRA has threatened Montrose County with legal action if the Boyd Group’s report is released before they have a chance to review it. County Attorney Bob Hill says that EXTRA will receive the report three days before it’s publically released, however, the second it touches their hands, it will become a public document. EXTRA CEO Ken Keith believes the report contains several factual errors and unsupported biases. In July, EXTRA chose Montrose to be it’s U.S. Headquarters for it’s airplane manufacturing business. They are based out of Germany.
Source: Daily Press (Posted 6:50a Wednesday October 6, 2010)

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The City of Montrose is contemplating buying land from Montrose Economic Development Corp., which they can use , up to half a million dollars , to help attract EXTRA Aircraft to Montrose. According to the Montrose Press the Mon. Assoc. for Commerce and Tourism, Montrose ACT is currently taking a petition drive to help drum up support for EXTRA.  The company is hoping to build its 500 series acrobatic planes in a plant here in Montrose and is looking for incentives from MEDC, as well as the city, the county, Region 10 and the state.  Extra’s CEO is in town this week to talk with stakeholders and promote his company.
Source: Montrose Daily Press (Posted 5:26p by Jim Kapp Wednesday September 29, 2010)

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Montrose Wednesday Morning Forum. From 8:00a to 9:00a this morning, Ken Keith, CEO of EXTRA Aircraft, will be at Heidi’s Brooklyn Deli in Montrose to talk to the public about himself, his company, and his aircraft. This is an opportunity to get your questions answered about EXTRA Aircraft, who is trying to erect a facility in Montrose.
Source: PSA    (Posted 6:48a Wednesday September 29, 2010)

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No decisions made. Yesterday the Montrose County Commissioners met with the City of Montrose, MEDC, and Region 10 regarding coming together to bring EXTRA Aircraft into Montrose. The group convened publicly for about 15 minutes and then broke into executive session. About 4 ½ hours later, they emerged. County Commissioner Ron Henderson says there will be another public meeting with these entities in the near future. No action was taken during yesterday’s meetings.
(Posted 5:50a Friday September 17, 2010)

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Special meeting tomorrow in Montrose. The Montrose County Board of County Commissioners will meet in a special session jointly with the City Council for the City of Montrose, the Executive Board for the Montrose Economic Development Corporation, officials from Region 10, and official(s) from the State of Colorado Office of Economic Development and International Trade to discuss the potential of encouraging Extra Aircraft to locate in Montrose.  The BOCC may convene in executive session during this meeting pursuant to CRS 24-6-402(4)(b) with the City Council, the MEDC board, the Region 10 officials and the State economic development official(s), as negotiating partners, for the purpose for determining positions relative to negotiating a potential incentive package to encourage Extra Aircraft to locate a manufacturing facility in Montrose and for developing strategy relative to such negotiations.
WHEN: Thursday, September 16th at 10:00 a.m.
WHERE: Montrose County Board Room 161 S. Townsend Avenue Montrose, CO 81401
Source: Press Release    (Posted 5:54a Wednesday September 15, 2010)

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Earlier today members of the Boyd Group International and Montrose County Commissioners and staff met with the public. The meeting was called for Boyd to present their findings regarding due diligence concerning County support for EXTRA Aircraft, a German airplane manufacturing company. The meeting was continued without even as much as a presentation from Boyd.   Commissioner Gary Ellis reassured the crowd how important this is that it’s done right. Earlier today new information came to light from EXTRA and now the Boyd report is being edited. The next meeting is expected to be later this month…..(Posted 3:53p by Jim Kapp Wednesday September 8, 2010)

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The Montrose Board of County Commissioners will hold a special meeting at 2:00 p.m. today at Friendship Hall. Boyd Group International (the professional consulting company the county hired to conduct due diligence on Extra Aircraft Manufacturing Company) will present their findings on the due diligence of Extra Aircraft.  They will be available to answer questions.  The Board will make a decision regarding County support for Extra Aircraft at this meeting.  The public and the media are encouraged to attend.

WHO: Ron Henderson, David White and Gary Ellis – Montrose County Board of County Commissioners
WHAT: Special meeting of the Board of County Commissioners to determine County support for Extra Aircraft
WHEN: Wednesday, September 8th at 2:00 p.m.
WHERE: Montrose County Fairgrounds
Friendship Hall
1001 N. 2nd Street
Montrose, CO 81401
Source: PSA    (Posted 6:03a Wednesday September 8, 2010)

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The Board of County Commissioners will hold a special meeting tomorrow afternoon, Wednesday, September 8th at 2:00 p.m. at Friendship Hall. Boyd Group International (the professional consulting company the county hired to conduct due diligence on Extra Aircraft Manufacturing Company) will present their findings on the due diligence of Extra Aircraft.  They will be available to answer questions.  The Board will make a decision regarding County support for Extra Aircraft at this meeting.  The public and the media are encouraged to attend.
Source: News Release  (Posted 4:01p by Jim Kapp Monday September 7, 2010)

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Ken Keith, CEO for EXTRA Aircraft Aviation will not be at this morning’s public meeting at Heidi’s Brooklyn Deli. The Daily Press writes that Keith had a personal matter and can’t attend. The meeting, starting at 8 this morning, is open to the public to ask questions regarding the international airplane manufacturing company coming to Montrose. Members from MEDC will be on hand.
Source: Daily Press (Posted 5:59a Wednesday August 18, 2010)

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Tomorrow Ken Keith, CEO of EXTRA Aircraft will be at Heidi’s Brooklyn Deli to answer questions from the general public regarding his facility possibly moving into Montrose. While, Boyd International Group was hired by Montrose County to scrutinize EXTRA’s plans and undertake all due diligence to ensure that the deal would be a sound one, the public has their own questions. The Daily Press reports that members from MEDC will also be on hand at tomorrow’s public meeting at 8:00am.
Source: Daily Press (Posted 7:40a Tuesday August 17, 2010)

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Montrose County has retained Boyd Group International, a professional consulting company out of Evergreen Colorado, to conduct due diligence on Extra Aircraft Manufacturing Company. The firm is well respected and internationally known.  It focuses on research and analysis of air service trends globally and in the United States.  It has completed fleet analyses, trend forecasts and market development studies for manufacturers, airlines, and aviation authorities.

“The County decided to hire this company because we want to make sure the due diligence is done correctly.  Boyd Group International is made up of experienced experts that understand market trends in the aviation industry,” said Jesse Smith, Montrose County Manager.  “This firm can determine the potential market for the two aircraft that will possibly be manufactured in our County as well as gather the information we need to be able to make informed decisions regarding Extra,” concluded Smith.

Michael Boyd co-founded the firm in 1984 and currently serves as President.  Boyd is well known as an expert in futurist aviation issues, and is often called upon by the national media to provide input regarding events and trends affecting aircraft manufacturers, airlines and airports. Since founding the company in 1984, he has directed hundreds of projects for clients ranging from small airports to global companies such as General Electric, Delta Airlines, Continental Airlines, Aerostructures, and Embraer Aircraft.

The firm’s website can be found at: www.aviationplanning.com.
Source: Press Release   (Posted 6:56a Monday August 9, 2010)

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Montrose County has retained Boyd Group International, a professional consulting company out of Evergreen Colorado, to conduct due diligence on Extra Aircraft Manufacturing Company. The firm is well respected and internationally known.  It focuses on research and analysis of air service trends globally and in the United States.
Source: News Release  (Posted 5:38p by Jim Kapp Friday August 6, 2010)

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Huge announcement for Montrose!

Over a hundred people turned out for the official announcement of EXTRA Aircraft choosing Montrose as their US Headquarters and aircraft production center. EXTRA Aircraft is based out of Germany and makes the only carbon composite aircraft in the world. President Ken Keith said what’s so great about Montrose is how it already appears to be taken care of, and that things weren’t “dressed up” to impress them.  There are already potential buyers that flew specifically into Montrose today to demo the plane, dubbed “The Spirit of Montrose.” This company is expected to generate $1.5 million dollars into the Montrose community in the first 5 months of it being here.
(Posted 11:44a Friday July 23, 2010)

Official Press Release from Montrose County:
The Montrose County Board of County Commissioners is pleased the aircraft manufacturing company Extra, previously code-named “Thunder” has decided to locate its North American manufacturing facility in Montrose.  Extra is currently located in Germany and has been searching for a North American location the last several months.

“We are excited about the possibility of 200 new jobs coming to our community and we look forward to working closely with Extra once our due diligence is complete,” said Jesse Smith, Montrose County Manager.

The County is still in the due diligence process and will complete this process before moving forward on authorizing financing, securing land and negotiating contracts.  As communicated at the public hearing on July 1st, the Board’s support of this project is contingent on satisfaction of the following five conditions:

1. Full disclosure to, and discussions with the public, by the County
2. Full financial due-diligence of the subject company, performed by the County, to the full satisfaction of the County
3. Full compliance with all applicable provisions of the Colorado State Constitution, Statutes, and regulations
4. A signed agreement containing performance measures, with appropriate financial penalties for non-compliance
5. Secure appropriate funding

These five conditions remain a part of the deal and the Board’s intent to provide what is described below is expressly contingent on these conditions being met to the full satisfaction of the Board.  Subject to these conditions, the Board is willing to consider for approval the following:

1. The Board will lease pursuant to a standard airport lease the southerly hangar on the Airport located at 6181 64.50 Road, consisting of approximately 6000 square feet of hangar space, to Extra for up to two years at $0.18 per square foot per year and subject to retention of space in the building necessary to accommodate existing County communications equipment and facilities located in and at that building.
2. The Board will lease pursuant to a standard airport lease such additional land adjacent to the hangar referenced above as is sufficient for location of a modular office facility and necessary parking at $0.18 per square foot per year for up to two years, location and size of leasehold to be agreed and set forth in the lease.
3. It is understood and intended that the above two leases are intended to be temporary facilities for Extra to manufacture aircraft pending its completion of construction of a manufacturing facility at another on-airport location.  However, if Extra needs to extend either of the above two leases beyond the two year period referenced above, pending completion of the other facility, the lease rate shall increase to $0.35 per square foot per year for each year or portion thereof in excess of this first two year period.
4. The Board will purchase at fair market value approximately 7.68 acres of additional property currently located off airport in the aerospace research park and pursuant to federal land acquisition guidelines necessary to make the purchase eligible for FAA reimbursement of land acquisition costs.  This property would be identified on the MTJ airport layout plan as airport property.
5. The Board will lease per a standard airport lease a portion of this property to Extra initially sufficient to construct a 25,000 square foot manufacturing facility with consideration of expansion of the leasehold to accommodate a 50,000 square foot facility.
6. The Board will grant real and personal property tax abatements of up to 50% on real property taxes for a period of up to five years (as available for possessory interest tax) and on personal property taxes for a period of up to 4 years on such personal property taxes in accordance with the Montrose County Board of County Commissioners’ Resolution No. 26-1996 and applicable Colorado State statues and Colorado law.
Source: Press Release   (Posted 12:29p Friday July 23, 2010)

Official Press Release from Governor Bill Ritter:
Gov. Bill Ritter today applauded the creation of 220 new jobs in Montrose by Germany-based EXTRA Aircraft, which has chosen the Western Slope for its new North American aircraft manufacturing facility. The state’s Office of Economic Development partnered with the City of Montrose, County of Montrose and Montrose Economic Development Corp. to help recruit the company to Colorado.

“Even in these tough times, Colorado continues to attract world-class companies and jobs thanks to our low-cost, high-quality and business-friendly strategies,” Gov. Ritter said. “Colorado’s spirit of innovation and strong manufacturing sector are helping to drive our economy forward, and it’s my privilege to welcome EXTRA Aircraft to the Centennial State and the Western Slope. Congratulations to all of the partners who helped make this project a reality.”

The state is supporting the project through its Colorado First and Existing Industry job-training program and other incentives.

Colorado Economic Development Director Don Marostica attended today’s announcement ceremony in Montrose.

“EXTRA Aircraft’s arrival means 220 good-paying jobs for hard-working Coloradans,” Marostica said. “This is another reason why financial experts like CNBC, Forbes and the American Legislative Exchange Council all agree Colorado is one of the best states in the country in which to do business, and that we have one of the strongest economic outlooks for the future.”
Source: Press Release   (Posted 11:45a Friday July 23, 2010)