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Game Changing Agreements Approved for Gary Airport

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The Gary/Chicago International Airport Authority today unanimously approved development and management agreements. The agreements constitute a 100-million dollar total investment in the airport and the City of Gary over 40 years. It also includes an investment of 25-million dollars in the first three-years and a 300-thousand dollar investment in workforce development as well as performance incentives for revenue growth and profit sharing with the airport and the city, and the Airport Authority will retain its public control over the airport. The management and develpoment group includes Aviation Facilities Company Inc./AvPorts (AFCO), Guggenheim Securities and Loop Capital.
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