Burlington City Council in Vermont, USA has approved a 75-year lease that will allow Beta Technologies to expand its operations at the the city’s Burlington International Airport. The agreement, approved Monday evening, will allow the company to construct a 355,000-square-foot manufacturing and assembly structure, a 15,000-square-foot child care facility and a 300-space parking area on airport property. Additionally the lease allows for further expansion of those facilities as required.
Beta, has been based at the Burlington airport since 2019 under a previous agreement with the City Council. Commenting on the city’s approval Burlington Mayor Miro Weinburger said “This lease ensures that, for many years to come, Beta can continue its remarkable growth and innovation right here at BTV”. Under the terms of the lease Beta will pay broadly similar rents to other airport tenants with a 2-6% annual increase factored in. However Beta will also be able to offset spending on infrastructure development against future rent.
