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United Therapeutics, a Maryland-based biotechnology company with a facility in Manchester that researches artificial organ production, has proposed building a hangar on city-owned land at Concord Airport. (honour)
A billion dollar medical research company’s decision to build a hangar at Concord Airport signals a new wave of investment in the city and paves the way for other companies to follow suit.
The city of Concord has signed a 20-year lease with Maryland-based biotechnology company United Therapeutics Corp. to research artificial organ production in Manchester to build a jet structure for the company and pay for runway improvements at the municipal airport.
“UTC’s proposed corporate hangar will put them in a physical presence in Concord,” Deputy City Manager Matt Walsh said in a summary of the proposal. “If UTC is interested in relocating or expanding operations in New Hampshire, their presence at the airport could make Concorde an attractive option for their continued growth.”
Walsh said it could be the first of many commercial developments to come to the property.
“UTC’s presence could serve to further elevate the airline’s profile in various business sectors and further aviation-based growth,” Walsh wrote.
The hangar will be built on a 2.88-acre parcel of land adjacent to an abandoned airstrip and vacant lot on State Drive, bordering the town of Pembroke. United Therapeutics has expressed interest in building a private hangar at the airport that can hold up to five aircraft. These include jets, turboprop aircraft and helicopters. The 58-foot-long, 35,000-square-foot building contains a small meeting room, a pilot’s lounge and a two-car garage. The lease begins on April 1 and the company expects construction to be completed by October 2024.
The city expects the building to be worth $4 million to $5.7 million, which would generate $102,265 to $141,573 in taxes annually.
“This is a great addition to our community,” Walsh told City Council members at a meeting last week.
‘Encouraging’ mission
The company’s founder and CEO, Martin A. Rothblatt, is an accomplished pilot and passionate aviation enthusiast whose interests include developing electric-powered aircraft, Walsh said.
In the year Founded in 1966, the company focuses on high blood pressure, lung and pediatric cancer treatments, and is involved in research and organ manufacturing.
“The corporate mission, values and culture are nothing but inspiring,” Walsh said.
Private planes and jets, which are anchored between the National Guard Building and commercial buildings on Chanel Drive, operate once a day to transport company executives and customers to and from downtown Concord, said Evan Heron of Silver Maple Construction. During the March 15 meeting of the Concord Planning Board.
“They have a strong presence in the Southeast of the United States and it’s growing in the Northeast, which is why they chose Concord as a strategic location for this hangar,” continued Herron. “They get on the plane, hop in the car for their meetings, go back to the airport and fly home.”
The 20-year lease increases rents by 3% per year and is expected to generate $1.1 million to $3.3 million in revenue for the city in addition to annual tax revenue.
“UTC is one of the world’s leading biotechnology companies. The city has long desired to attract these businesses to the community,” Walsh wrote. “UTC’s presence in Concord furthers this long-term goal.”
Unable to reach an agreement to build a similar hangar at Manchester Airport, the company approached the city of Concord instead. The decision, Walsh continued, brings more opportunity for such development to Concord.
“We’ve gotten a lot of interest, and we’re working with other potential partners and a few other people in the wings — no pun intended — that are out there,” Walsh said. “If everything comes together, it will be amazing.”
The proposal received master site plan approval from the Planning Board after the council agreed to the lease on March 13.
United Therapeutics is “excited to move forward with construction and will do so as soon as all permits are completed,” Walsh wrote.
This article is being shared by partners at the Granite State News Collaborative. For more information visit, collaborativenh.org.
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