VISIONAIRE SEEKING INVESTORS

When Cape Girardeau and Ames, Iowa, were selected from among 31 sites being investigated for a new single-engine jet aircraft manufacturing facility, each started on a level playing field.

One of the two sites, VisionAire Corp. Chairman and Chief Executive officer James O. Rice Jr. said, will be selected for the facility.

"We should have a decision within four to six weeks," said Rice.

Rice and other VisionAire officials were in Cape Girardeau Tuesday to discuss plans for its proposed Vantage jet, a five-passenger, one-pilot aircraft powered by a Pratt & Whitney JT15D-5 engine.

A sizable group was on hand for the Vantage discussion Tuesday. Speaking to the group were Rice, VisionAire chief financial officer Gary Pluth, board member Fred E. Miller, and VisionAire President F. Thomas Stark.

Eventually, VisionAire will provide aircraft for every market segment, from primary trainer to personal aircraft, satisfying needs for business, agriculture, defense and personal aviation.

"But our initial focus is on business aviation," said Rice. "We want to provide a safe, reliable, low-cost, high-performance, business-jet aircraft to fill an existing market void."

The Vantage is a "regional type" aircraft, said Rice. "It can go coast to coast, but it would have to make a lot of stops." The Vantage is designed for smaller hauls.

"Aviation people tell us that the average corporate trip is about 600 miles," said Miller. "With the Vantage, people can fly up to 400 mph and make trips up to 1,000 miles.

The company was in Cape Girardeau to talk investments.

"A prototype plane is currently being built," said Pluth in addressing the financial aspects of VisionAire.

The company is seeking investors for the development process of the new plane. A prototype is currently being built, using composite technology and methods by noted airplane designer Burt Rutan.

"We have initiated a syndication plan, intended to raise funds, partially from investors in the community we select to locate our first assembly facility.

On hand were a number of local officials including Cape Girardeau Mayor Al Spradling III, Chamber of Commerce President John Mehner; Cape Girardeau Area Industrial Recruitment Association Executive Director Mitch Robinson, and Department of Economic Development Regional Director Mike Seabaugh.

A new manufacturing facility will mean 150 new jobs. "These are good jobs," said Rice. "We're talking $15 an hour."

VisionAire is looking at 120,000 square feet to start, with room for expansion.

VisionAire officials have been in contact with Cape Girardeau and Ames officials for more than two years.

"We all feel very positive about things here in Cape Girardeau," said Robinson.