Silicon Valley is home to aspiring startups and billion dollar behemoths alike. Quite a number of companies based there use corporate jets and now the San Jose City Council has approved construction of a $82 million corporate jet terminal at the airport. The council approved a 50 year lease agreement with a private company, Signature Flight Services, which will build this terminal on the west side of Mineta San Jose International Airport.
Google will be benefiting the most from this new terminal. Out of the seven hangars that are going to be built here, five will be controlled by Blue City Holdings, which will look after the private jets of Google founders Sergey Brin and Larry Page, as well as executive chairman Eric Schmidt. Signature Fight Services is expected to give as much as $3 million in rent, excluding additional fees, to the airport. Its was a 10-1 vote, with nearly two dozen nearby residents calling for the council to reconsider this project by either reducing the length of lease or increase curfew violation fines. There’s no word as yet on when terminal construction will begin.
Source: www.ubergizmo.com; 04/18/2013; Adnan Farooqui