O’Hare o’kayed for cargo project
June 26, 2012, 02:06 pm
The City of Chicago’s Aviation Committee has approved the cargo facility lease agreement with Aero Chicago to develop the Northeast Cargo Center at O’Hare International Airport. The project is expected to cost $200 million.
The project is expected to cost nearly $200 million and create 1,200 construction jobs, 1,200 permanent cargo jobs and 10,000 regional jobs over the decade-long development. The cargo center is estimated to create $600 million in economic benefits to the airport and will cost Chicago taxpayers nothing.
The project will be funded by a $130 million investment from Aeroterm, along with $62 million more from airport funds.
“O'Hare is one of our city's key economic engines," said Rosemarie Andolino, commissioner of the Chicago Department of Aviation. “This major development will improve O'Hare's infrastructure, increase cargo capacity, enhance our global competitiveness, create thousands of new construction and permanent jobs, and increase rent and tax revenue to the airport and to the city.”
The Northeast Cargo Center, which will sit on a 65-acre plot, will be completed in three phases. The first phase will include construction of a building with office and cargo space and taxiway to connect the rest of the airport. The following two phases will include additional construction to the office and cargo space.
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