BaySys International, LLC Announces Accomac County, VA Approval to Fund New Hangar Taxiway

ACCOMAC, VA–(Marketwire – August 3, 2010) – Steve Walton, CEO & Founder, BaySys International, LLC, announced to employees today “that the Accomack County Board met and voted 5-4 to issue a bond for up to 9 million dollars to fund the expansion of the taxiway and the development of the infrastructure necessary for BaySys Technologies to locate the new hangar in the Wallops Research Park.”

Approximately 15 BaySys employees attended the meeting and were heard in public forum. Frank Arban, Garnett Kellam, Chris Needels and Nick Olmsted each spoke on behalf of BaySys.

The Board passing vote followed the presentation of a County funded study that shows BaySys Technologies is worth millions to the area as an economic engine. BaySys Technologies’ proposal is to expand its airplane customization business and to build two hangars capable of covering two (2) A380 or B747-8 and numerous smaller aircraft within the newly established Wallops Research Park.

The project depended upon the county agreeing to pay for a taxiway to connect the NASA runway with the park and other improvements at a cost of up to $9 million. The Board of Supervisors met Monday and voted on the proposal. Supervisor Grayson Chesser made a formal request that public participation be allowed at the meeting.

The study done by public sector consulting firm Springsted found the project would result in 339 direct jobs created, with an average salary of $57,000 and a total payroll over five years of over $94 million. The total payroll over 30 years would be an estimated $790 million.

The first, 180,000-square-foot hangar BaySys proposes to build, with construction to begin in spring 2011, would bring 200 new jobs, according to the report, while a second, 130,000-square-foot hangar to be built in fall 2012, would bring another 130 jobs — resulting in $21.3 million in annual payroll upon build out, and $44.3 million in capital investment.