News Release

July 20, 2007 Contact: Jerry Adams, Branson public information director, 417-337-8526

Branson breaks ground on first private commercial airport

Completion scheduled for 2009
Local dignitaries turned the shovels to mark the beginning of construction for the Branson Airport that is expected to see commercial flights in May 2009. I can tell you, its a big day, said Steve Peet, president of Branson Airport LLC. The company has been working for seven years to get engineering plans, federal permits and financing. Peet said a few weeks ago his company closed the financing of the $140 million airport. Branson Airport found investors dedicated to being part of what is now the countrys first privately developed and operated commercial airport. The partnership invested $25 million, and sold $113 million in bonds. Peet said negotiations are now underway with airlines to bring flights to Branson. He said his company is particularly interested in bringing in low-fare carriers. The airport will be located south of Branson off of U.S. Highway 65. It will consist of an access road, a 7,140-foot runway and terminal. The city of Branson is financially obligated to the airport only under a pay-forperformance contract. The 30year agreement states the city will pay the airport $8.24 for each arriving visitor, with an annual cap of $2 million. City officials believe the airport will bring more visitors to town and to the new convention center set to open next month. ] But the airport isnt the only development in that area. Glenn Patch, who owns the property where the airport is located, plans to build an 8,000-seat arena and 15,000seat amphitheater near the airport to attract large events like tractor pulls and horse shows. Patch bought 7,000 acres south of Branson in 1990. The property used to be a ranch belonging to country music legend Tennessee Ernie Ford. During the past 17

years, Patch has developed two golf courses, up-scale homes, condominiums and now an airport. Branson Mayor Raeanne Presley doesnt consider the new Branson Airport as competition to other airports in the region specifically the Springfield/Branson National Airport. Its not so much about competition, but more about the opportunity for more access for travelers, she said. This is the beginning of what I believe will be a rush to come visit the Branson area.