A new lease agreement between Durango-La Plata County Airport and Agile Space Industries, Inc. is in the final stages of approval by the city of Durango as of late August.
The partnership intends to push economic development and aerospace innovation in the region, according to a news release by the city of Durango.
Agile Space Industries has had a presence at the airport since it began leasing space there for a test site in 2013 – but the new lease deal will allow Agile to expand into a second, adjacent building at 820 Airport Road, just north of the airport terminal, said Durango-La Plata County Airport Aviation Director Tony Vicari.
The lease deal will stretch Agile Space Industry’s footprint at the airport to around 40,000 square feet, he said, and it will allow the fast-growing company a much needed stretch of the legs.
Agile Space Industries been in Durango for the last 15 years, and the company has been accelerating over the past four, said Agile Space Industries Chief Operating Officer David Cuthbertson.
“We’re just needing more space,” he said.
The new facilities will be used as a manufacturing center, which will involve research, design and early production of lunar landers, as well as promoting work on satellite engines, tanks and propulsion systems, Cuthbertson said.
Agile sees the expansion as a positive not just for the company, but for the economic community on the whole, as the new facilities could provide as many as 70 new jobs in the Durango area by the end of 2026.
“I think this is a really good example of the city working with the private sector to help bring jobs into Durango,” said city of Durango spokesman Tom Sluis.
“The jobs that Agile is creating are very desirable jobs,” said city of Durango Prosperity Officer Mike French. “They’re high-paying jobs in an industry (aerospace) that is really important for Durango to have.”
Vicari echoed Cuthbertson’s sentiment that the rapidly growing aerospace company needs a bit more room in order to meaningfully expand its operations.
“When they first began leasing space at the airport for a test site over a decade ago, they had less than a dozen employees,” Vicari said. “It was a very small, nimble entry company. But over time, they’ve definitely seen more and more success in the marketplace. They’re a thriving company, and (this deal will) provide a stable leasehold for Agile Space to continue to grow their business here in Southwest Colorado.”
The lease deal will also provide an economic benefit to the airport, he said, being that the airport is financially self-sustaining, and gathers revenue through a mix of rates and charges assessed to users and tenants.
“What this represents is (an) expanded lease and added rent income for the airport,” Vicari said. “It augments our state revenue sources and allows us to continue to build the revenue profile of the airport, and then subsequently invest in projects and growth.”
Vicari said airport operations – including parking, pickup and drop off at the airport – will not be disrupted by the new lease deal, and community members can expect their travels to operate as per usual throughout the process.
One more City Council approval must be granted next week in order to make the lease deal official – but that step is only a formality, said Sluis.
epond@durangoherald.com
