Cape Girardeau Area Magnet ready to start pursuing tenants for Commander Premier building

With a couple of companies already showing some degree of interest, an area economic development organization is set to begin its aggressive marketing campaign to find others who would want to take over space occupied by Commander Premier Aircraft Corp. at the Cape Girardeau Regional Airport.

The topic was discussed at Wednesday's meeting of the Airport Advisory Board, though none of the interested companies' names have been released yet, said airport manager Bruce Loy.

"We didn't take any action," Loy said. "There was just discussion about some of the options and the possibilities that exist in using that space."

Mitch Robinson, executive director of Cape Girardeau Area Magnet, said some companies have expressed interest in aviation-related property like the one currently occupied by Commander. Commander is in financial straits, and an investor who wants to take over the company has been unable so far to secure financing. Meanwhile, the city is paying off the debt for the company's production facility. The company has made only eight of the 52 scheduled payments. The city's next payment of $201,380 is due April 1, and the city has paid $261,000 over the past year.

"There's continued dialogue with the investor," Robinson said. "They continue to believe the funding is there, but the proof's in the pudding. There's not been a check sent yet."

So Robinson is about 60 days from being ready to begin what he characterizes as an aggressive marketing of the 52,000-square-foot hangar. Some companies have expressed interest -- Robinson won't name them -- but he said he's competing with many other states for those companies.

"It's probably Missouri and 52 other states," he said.

A brochure highlighting the facility's advantages is being finalized, he said, along with an e-mail list of potential contacts. But he said there have been "no serious inquiries yet."

But Robinson said the advantage of the property is that it's a building ready to go for aviation production.

Some options that show growth right now are for manufacturing of light-sport classification airplanes, mainly for hobbyists. That is a growth area, Robinson said.

"There's a lot of activity in that area, so we're going to be looking hard there," he said.

Air freight is another, he said.

"So we're researching all of those things," Robinson said. "We are ready to get the city out from under those payments and get a tenant in there as soon as we can."

Robinson acknowledges it could be a tough sell, especially in this economic climate.

"It's a tough time," he said.

smoyers@semissourian.com

388-3642

Pertinent address:

Cape Girardeau Regional Airport, Cape Girardeau, MO