Dow, Dow Corning Donate Millions To MBS Airport 12-16-2010 - WNEM TV 5

Dow, Dow Corning Donate Millions To MBS Airport 12-16-2010

the MBS International Airport Commission announced it is to receive $3.75 million in new private funding to help meet the MBS local pledge toward the new terminal, now under construction. In recognition of the significant community benefit the new terminal promises to bring to the region, The Dow Chemical Company has pledged $2 million, payable over two years, as well as an additional $1 million advertising agreement for Dow in the new terminal. Dow Corning Corporation also has pledged $750,000. “Completion of the new MBS International Airport terminal is critical for the growth and prosperity of the Great Lakes Bay Region, and we at Dow are pleased to be contributing to this important project,” said David Kepler, executive vice president of Business Services at Dow. “As Dow continues to drive growth and help build our region into a green tech hub, it is paramount that the area offers a modernized airport that enables accessible, convenient travel to meet the growing demand.” “This donation is being made as a demonstration of Dow Corning’s commitment to the continued economic growth and improved quality of life in the Great Lakes Bay Region,” said J. Donald Sheets, executive vice president and chief financial officer. “This new modern facility will offer a positive first impression to all who travel here, whether they are customers of businesses in the region, prospective investors, potential employees or vacationers.”
To date, no current or new local tax dollars have been used to fund the new terminal building. Construction has been funded through a combination of sources, including Federal Aviation Administration entitlement and discretionary funds, federal passenger facility charges, local contributions such as these and state apportionment funds. According to MBS International Airport Manager Jeff Nagel, the new funding will support MBS’s pledge to complete the new state-of-the-art terminal without local tax dollars. “We are grateful for the funding assistance and appreciate the support of our local businesses,” he said. The $48 million, 75,000-square-foot terminal project is projected to create more than 500 construction-related jobs and result in an efficient, sustainable facility that will meet the travel needs of the Great Bay Lakes Region for decades to come. Now in its fifth of seven construction phases, the project is slated to be completed in 2013.
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