Newspaper Page Text
Gulfstream commits to lease extension
at Brunswick airport
Gulfstream Aerospace Corp. has
renewed its lease agreement with
the Glynn County Airport Commis
sion for space at Brunswick Golden
Isles Airport. The agreement, which
was signed May 14, is for five years.
Financial terms were not disclosed.
Savannah-based Gulfstream’s
Brunswick facility opened in 1992
and is closing in on a 20-year anniver
sary during this lease extension.
The Brunswick facility finishes
the interior of business jets man
ufactured by Gulfstream, and also
provides repair service for in-service
Gulfstream aircraft. Current employ
ment stands at 165.
A key part of the agreement is that
the Brunswick and Glynn County
Development Authority will assist
Gulfstream with a number of capital
improvements to the 1950s-era build
ings by the end of 2011 at a total
estimated cost of $1.4 million. The
lion’s share of the expenditure is for
rehabilitation of the huge main han
gar door.
Other improvements include new,
energy-efficient lighting and air con
ditioning upgrades, new skylights
in the main hangar, and new fur
nishings for the customer lobby of
the main office building. All of the
improvements will be repaid through
Gulfstream’s lease payment over the
next five years.
“It is impossible to overstate the
significance of Gulfstream’s renewed
commitment to Brunswick and Glynn
County. This is a company that can
have their pick of choice locations,
and they have once again chosen our
area,” said Nathan Sparks, executive
director of the Brunswick and Glynn
County Development Authority.
“We’re pleased that Gulfstream
is doing well enough to maintain
their relationship with the Airport
Commission and to continue to do
business at Brunswick Golden Isles
Airport,” said Rusty Bolt, chairman
of the Glynn County Airport Com-
Gulfstream's Brunswick Golden Isles Airport facility.
Safe and sound,
since we’re owned by
the best people in the
world-our members.
-©.Frederica
Credit Union
Anyone can be a member,
and be treated like an owner.
Safe,
Sound
and
Member
Owned
Brunswick 912-264-7533
4401 Altama Ave. 800-280-8213
St. Simons Island ^
495 Sea Island Rd.
NCUA
THE ISLANDER, MAY 31, 2010, PAGE 3
Business Upda
GPA posts 25% container growth for April
Georgia Ports Authority’s (GPA)
Executive Director Curtis J. Foltz
announced that the GPA experienced
25.6% container growth in April and
has recorded five consecutive months
of double-digit growth through its
ports. (See chart)
“The volume increases experienced
in most commodity groups signals a
continued economic recovery in most
global markets,” said Foltz. “We are
especially pleased that our ports are
adding new jobs. I want to thank all of
the men and women in the maritime
industry who provide excellent value
for our customers every day.”
Overall tonnage for April 2010
reported gains of 16.4%, which brings
the GPA’s fiscal year-to-date (July
2009 through April 2010) volume to a
6 percent increase compared with the
same time period last year. Export
mission.
Bolt noted that the five-year renew
al contract will become effective on
Aug. 1, 2010, and that Gulfstream has
the option to renew its lease for three
additional five-year terms.
“We are very happy about main
taining our partnership with the
Glynn County Airport Commission
and are very excited about continu
ing our operations in the Brunswick
area,” said Ron Aldrich, general man
ager of Gulfstream Brunswick. □
containers continued to lead the recov
ery, posting a 30.4 percent increase.
“A relatively weak U.S. currency
and strong foreign demand for our
commodity groups are expected to
continue,” said Foltz. “Trade projec
tions remain optimistic with growing
economic demand replacing the recent
increase caused by inventory replen
ishment.”
At the Port of Brunswick, the move
ment of auto and machinery units has
also experienced growth for the past
five months. Colonel’s Island Termi
nal moved 33,815 total units in April
2010, which is a 75.9 percent increase
compared with April 2009.
“Even during the recession, the
GPA continued to add capacity and
improve operations,” said GPA’s
Chairman of the Board Stephen S.
Green. “Our focus is on ensuring our
customers continue to receive stellar
services.”
Georgia’s deepwater ports and
inland barge terminals support more
than 286,476 jobs throughout the
state annually and contribute $14.9
billion in income, $55.8 billion in rev
enue and $2.8 billion in state and local
taxes to Georgia’s economy.
For additional information, contact
GPA’s Director of External Affairs
Robert Morris at (912) 964-3855 or
rmorris@gaports.com. Visit the GPA
web site at www.gaports.com. □
SHOULDER HURT?
There’s no
need to be
in pain.
Our advanced techniques are so effective, they have helped many of
your friends and neighbors work, play and live without shoulder pain.
Dr. Ralph W. Morales is a board-certified orthopaedic surgeon who was
fellowship-trained at the renowned Hughston Clinic. And Dr. Morales
always takes the time to listen.
Advanced arthroscopy and laser procedures available • Recovery time reduced
Postsurgical discomfort minimized • Insurance accepted and filed
And as always, nonsurgical solutions are explored first
Visa and MasterCard accepted • Participation in most insurance plans
ii Dr. Ralph W. Morales
IZT SOUTHERN ORTHOPAEDICS & SPORTS MEDICINE, PC
—lul Peak-performance results with a personal touch.
| 3231 Glynn Ave. • Brunswick
Call for a consultation or
ask your doctor for a referral