Vermont’s Agency of Transportation is poised to sell the Caledonia County Airport to CRAFTVT, a group founded by Kyle Clark, the CEO of Beta Technologies.
The agency announced on Wednesday that it had entered into a purchase and sale agreement with the company.
“We are excited about the opportunities for infrastructure improvements and economic development under new, private ownership of this vibrant Vermont airport,” Transportation Secretary Joe Flynn said in the announcement. “We wish to assure current and future airport users that they will continue to have full access in perpetuity.”
Before the sale can move forward, the Federal Aviation Administration needs to conduct an evaluation to determine whether the airport can be privatized, according to Trini Brassard, an assistant director at the Agency of Transportation. Brassard said the evaluation process is “in depth” and could take anywhere from a few months to a year to complete.
Airport users have long been asking for upgrades to the Lyndon facility, including a repaved main runway and taxiways, which are in poor condition. Other state airports were in line to receive federal funding ahead of the facility, and state officials reasoned that privatization would help upgrade the airport more quickly.
Lawmakers authorized the sale of the airport in 2023, after which the Agency of Transportation initiated a request for proposals. Flynn described Beta Technologies as a party interested in purchasing the airport to lawmakers at that time.
CRAFTVT’s proposal was “the only response we got, but it was a good one, so we pursued it,” Brassard said.
If the sale moves forward, CRAFTVT would pay the state $500,000 in cash, pave the runway within the first two years of ownership, honor all current leases, and keep the airport public.
Members of CRAFTVT, which include Clark and his wife, Katie Clark, who also works at Beta, and Bina and Martine Rothblatt, are “aviation enthusiasts and entrepreneurs who believe that small, general aviation airports like Caledonia County State Airport are important economic and social assets,” Dennise Casey, a spokesperson for the group, said in emailed responses to questions.
Keeping airports like Caledonia County updated and public is “essential,” she said.
Casey said the group is waiting for the Federal Aviation Administration’s official approval before developing detailed plans for the airport. But the buyers expect to expand by upgrading buildings and potentially build more hangars, which are in demand, she said.
“Increasing access to the airport and enhancing amenities and services will make it a regional draw that supports businesses and recreation in the area,” Kyle Clark said in a press release from the Agency of Transportation. “In my meetings with folks across the region, it’s clear there’s an energy around growing more opportunity here and the airport is part of that vision.”
The group has also communicated with non-profits, business owners, municipal leaders, elected officials and education leaders, Casey said. They hope to offer economic and educational opportunities “through internships and participation in courses offered at area institutions,” for example.
“We intend to continue those conversations and work together with leaders as we move forward,” she said.
Read the story on VTDigger here: State announces pending sale of Caledonia County Airport to group founded by Beta CEO.