Local groups celebrate aviation
April 27, 2012, 02:38 pm
The aviation industry accounts for significant proportions of local economies all over the United States. Many communities rely on aviation plants, airports and other organizations to bring new business to the state or enable small companies to expand into new markets. In response, many organizations are working to preserve aviation's presence in their state and communities. Another way to guarantee continued growth in aviation is through investment in pilot insurance.
Alabama Governor Robert Bentley recently signed House Bill 39 into law. It is a measure that will help the state recruit new investment and business while creating sustainable new jobs in aviation and technology, WKRG reported.
The Aviation Amendment creates a state sales tax exemption for aviation-related businesses only. The exemption specifically covers aircraft manufacturing parts, components, and systems involved in the maintenance and repair of the aircraft, WKRG reported.
The exemption is significant because more than 10 other states offer similar tax exemptions for the aviation-related industry, and use this tax loophole to attract new businesses to help build jobs and boost the local economy. The new law will enable Alabama to compete with these other states to attract business and create employment opportunities for residents, WKRG reported.
“The Aviation Amendment gives us a vital tool to help aviation companies have what they need to attract customers and create future development,” Governor Bentley said. “The end result will be more secure, well-paying jobs for people in our communities.”
Bill Hafner, vice president of operations at ST Aerospace Mobile, told WKRG the amendment could protect existing jobs as well as create new ones. Many aviation companies and groups will be encouraged to maintain their business in Alabama due to the helpful tax exemption, which will help stabilize struggling communities.
“It puts us on a level playing field, so now we're not imposing additional costs on our customers," Hafner said. "I think it will help assure that work will remain here and help attract future work.”
In addition, U.S. Senator Pat Roberts from Kansas is working with aviation industry leaders in Wichita by holding off-the-record discussion with aviation manufacturers to discuss growing the industry in the state.
The Kansas City Star reported Senator Roberts has held similar roundtable discussions with healthcare and agriculture industry leaders in the past, to determine what efforts should be made to boost various industries in the state. The aviation roundtable will address future economic plans as well as the local Aero Club.
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