AMARILLO, Texas (KAMR/KCIT) — Officials with Albers Aerospace recently released information regarding a future tenant of its facility being built in Amarillo.
According to a news release from Albers Aerospace, the company recently invested $1 million in Hopflyt, a designer of the hybrid electrical vertical takeoff and landing aircraft line. Officials said that Hopflyt is preparing to move its military division to Amarillo as part of Albers’ larger manufacturing and flight test facility.
This comes after the Amarillo City Council approved a location incentive agreement and a tax abatement agreement with Albers Aerospace and the Amarillo Economic Development Corporation during an August regular meeting. According to the minutes from that meeting, the abatement was approved as a 100% abatement for 10 years and the location incentive agreement provided the company with $8 million along with conveying 30 acres for the business.
“We approved a location incentive agreement to bring up to 400 new jobs to the Amarillo area, said Kevin Carter, President and CEO of Amarillo Economic Development Corporation.” “These jobs are very high paying jobs, they have the average salary of these jobs are going to be right at $100,000 per year.”
According to the release, Albers’ investment in HopFlyt aims at enhancing the design, development and production of the military versions of the company’s eVTOL designs along with increasing Albers’ equity position in the company.
“We believe that progressing this technology for the Warfighter with our own capital is paramount in today’s defense budget environment,” John Albers, the president and CEO of Albers Aerospace, said in the release. “The innovative eVTOL design will bring much-needed capability to the Warfighter at an affordable price point and we view pressing towards that goal and using our own resources as good stewardship of resources and a demonstration of our commitment to the Warfighter.”
According to Carter Albers Aerospace has hired someone to operate the Amarillo facility, as well as a few other employees.