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A slew of city, state and federal officials gathered at Worcester Regional Airport to sign the complex over from the city's ownership to the Massachusetts Port Authority, or Massport, Tuesday morning.
Massport will pay the city more than $15 million in the transaction. That sum covers capital and operating costs the city has incurred over the past seven years of airport ownership, debt on the airport's terminal, and costs associated with the airport employees.
Officials on Tuesday said they hope with the Massport nameplate stamped on the facility, commercial and corporate service will increase, and access to the airport, which is located on the town line of Worcester and Leicester, will be improved.
"Just having the Massport name on this facility is priceless," said Worcester City Manager Michael O'Brien. "Now they have a legitimate stake in what happens here."
The airport runs an annual operating deficit of about $3 million. As owner, the city was responsible for about 20 percent of that while Massport paid the rest.
O'Brien referred to Massport taking over ownership as "leaving the experts in charge."
After the event O'Brien said he expects Massport to sometime soon expand corporate aviation services from the airport, and he said the airport's lone commercial carrier, Direct Air, could be expanding general aviation destinations soon, as well.
Jeffrey Mullan, state transportation secretary, who also attended the event, said he expects the Central Massachusetts Regional Planning Commission to release by the end of this year a mobility study examining transportation issues across the city, including airport access.
Gov. Deval Patrick, Lt. Gov. Timothy Murray, U.S. Rep. James McGovern, D-Worcester, Worcester city councilors and about 100 people attended Tuesday's ceremony at the airport, which included a speaking program by elected officials, Massport representatives and the New England regional director for the Federal Aviation Administration.
The airport is a 1,300-acre, two-runway facility. Massport will officially own the airport effective July 1.
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Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
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