The Westchester County Industrial Development Agency voted Thursday morning to negotiate a $40 million bond package for the Houston-based aviation company that provides waiting lounges and plane servicing for private and corporate jets.
Million Air said in its application that once the bonds are sold to private investors it intends to acquire existing franchise operations at the airport in the spring.
Construction is expected to begin in the summer.
Million Air estimated that its expansion will add 11 new permanent jobs to the 21 people it already employs.
Million Air operates 29 airport locations throughout the United States and Canada.
In its financial application letter, Million Air stated that airport facilities typically need to use the bond market for financing because commercial banks won’t lend due to the ground leases used at airports.