Midland Spaceport Business Park gets closer to constructionMidland Spaceport Business Park gets closer to constructionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=138262016-07-12T05:00:00Z2016-07-12T17:00:00Z

​​​MIDLAND - Midland Development Corp. (MDC) board members voted to release $3 million to Midland Spaceport Development Corp. (MSDC). 

The money will go toward funding Phase One of building Spaceport Business Park at Midland International Air & Space Port. 

Construction in this phase includes the extension of water and sewer to future tenants, as well as paving roads and building entrance points to the business park.

“MDC has agreed to advance $3 million to MSDC with the understanding that as the spaceport is reimbursed from the state of Texas, we’ll receive up to $2 million in reimbursements,” said Brent Hilliard, MDC chairman. The other $1 million will not be reimbursed.

Texas has agreed to give MSDC $2 million from the state's Spaceport Trust Fund.

District four City Councilman J. Ross Lacy, who also is MSDC president and a member of the Texas Aerospace and Aviation Advisory Committee, said it's the first small step in hopefully greater funding in the future.

"Two sessions ago, the Spaceport Trust Fund funded $15 million: We got $2 million, and Brownsville got $13 million," Lacy said. "Their $13 million will go to build their permanent vertical launch facility; our $2 million is going toward the business park."

Lacy said competing with other states in the race for space will require more capital.

Lacy also added that Midland needs facilities and amenities to attract businesses that states with large aerospace presences, such as California and Colorado, currently offer. 

Doing so could mean huge payoffs for the city and the state. 

Midland Reporter-Telegram
http://www.mrt.com/business/article_32ebb418-3cb4-11e6-987b-1bc067752a31.htmlRead more at the {Source}

 Search NewsTalk Texas