FedEx, GFK extend leaseThe Grand Forks Regional Airport Authority has signed a 10-year lease renewal with FedEx for its sorting facility at the airport.
By: Robb Jeffries, Grand Forks Herald
The Grand Forks Regional Airport Authority has signed a 10-year lease renewal with FedEx for its sorting facility at the airport.
The authority announced the agreement Wednesday. FedEx’s facility sorts cargo for distribution across North Dakota.
As part of the agreement, FedEx will get a 3,000 square-foot addition to its facility, estimated to cost about $884,000.
Scott Fiedler, FedEx spokesman, said the space will be used for additional equipment storage. The need for more space comes from an increase in cargo volume.
Airport Executive Director Patrick Dame earlier asked the city and county lend their bonding authority to help reduce the interest on the bond issue needed to pay for the addition and a $1.5 million parking lot. Votes are scheduled at City Council and expected at the County Commission.
“The long-term agreement with FedEx helps secure the region’s access to domestic and international markets,” Dame said in a statement. “We are extremely pleased to have the agreement in place and grateful to FedEx for their work with the authority in this process.”
Construction of the addition will begin this month, and will be completed by early October, according to the authority.
Call Jeffries at (701) 780-1105; (800) 477-6572, ext. 1105; or send email to firstname.lastname@example.org.