SHELL CORPORATIONS
Shell corporations (also known as special purpose vehicles, or special purpose facilities, etc.) have legitimate business purposes as they often serve an important role for start-ups. These entities are often formed before commencing operations to obtain financing.
In fact, most companies start as these entities, especially shell corporations. These corporations serve as a vehicle for business transactions. Logically, every company whether a corporation or limitied liability company is a "shell" when it is first created, as it needs to raise venture capital and does not have significant assets to begin operations.
Shell corporations (also known as special purpose vehicles, or special purpose facilities, etc.) have legitimate business purposes as they often serve an important role for start-ups. These entities are often formed before commencing operations to obtain financing.
In fact, most companies start as these entities, especially shell corporations. These corporations serve as a vehicle for business transactions. Logically, every company whether a corporation or limitied liability company is a "shell" when it is first created, as it needs to raise venture capital and does not have significant assets to begin operations.
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"Shell Corporations" are simply one of the methods of how economic development and construction projects of this magnitude are structured utilizing multiple businesses and organizational entities for each separate phase of a major development project and subsequent business operations of a facility.
$70 Million in New Investment
$382 Million 20-Year Impact to Ormond Beach
1800 20-Year Total New Job Effect to Region
$2.0 Million New State & Local Taxes Upon Completion of First Year of Operations
Robust Operations Facility - Not Just Aircraft Storage Hangars
800 Years Total Airport
Development, Engineering & Aviation Team Experience
100+ Years Total Military Command, Control, Operational, Flight & Ground Experience
Robust Aircraft Noise Abatement Program
Protects City from Financial Risk and Liability
No Ormond Beach Funds Required for Financing of Development
$382 Million 20-Year Impact to Ormond Beach
1800 20-Year Total New Job Effect to Region
$2.0 Million New State & Local Taxes Upon Completion of First Year of Operations
Robust Operations Facility - Not Just Aircraft Storage Hangars
800 Years Total Airport
Development, Engineering & Aviation Team Experience
100+ Years Total Military Command, Control, Operational, Flight & Ground Experience
Robust Aircraft Noise Abatement Program
Protects City from Financial Risk and Liability
No Ormond Beach Funds Required for Financing of Development
