NetJet Inc. and Flight Safety Stay in Columbus

These days one gets use to reading about business closings, downsizing, geographic movements and lay-offs often attributed to the lack or cost of fuel. Therefore, it is all the more amazing to read the story about NetJet Inc.'s expansion.

Ohio has taken aggressive financial action with respect to NetJet, a New Jersey-based private aviation company, to battle for 2,800 jobs represented by the company's presence in Columbus, Ohio.

NetJets and Flight Safety International were awarded 75 percent tax credits by the Ohio Tax Credit Authority so that they could expand their operations in Columbus.

The financial support does not come without compromise. While the complete tax credit package is worth 24 million dollars, NetJet is required to maintain operations for 30 years.

Ohio won the favor over North Carolina, Texas and Florida; NetJet and FlightSafety were completely swayed by the overall tax credit and public impact of 67.6 million.

Cousin Company Flight Safety has its own tax credit valued at more than 122.5 million.

There is also a lot of expansion represented with both companies in Columbus.

NetJets will expand its operational facility from 415,000 square feet to 192 square feet. This will cost about 73 million and will represent an additional 735 positions and retention of 1,865 positions.

FlightSafety will be creating a neighbor facility the size with which will be 100,000-square-foot facility.

NetJets, owned by Berkshire-Hathaway, is a 65 percent "player in the field of "fractional jet ownership" which allows partial ownership of jet flight equipment.

As you read this story, one has to wonder why there aren't more compromises between business and communities. Obviously, Ohio was willing to come to the plate with respect to a great business environment and also, NetJets Inc and FlightSafety were willing to sign extended contracts to let the communities build for the future and count on future jobs as well.

As a final adjunct to the story, FlightSafety trains aviator workers at more than 40 sites and designs and publishes flight simulation software.