The city’s Economic Development Corp. begins collecting fees from Carter Aviation
The Wichita Falls Economic Development Corporation began collecting money owed to the city by Jay W. Carter Jr. and his companies on Thursday.
In 2009, Carter received a $3.26 million incentive loan to purchase land, buildings and equipment for his hybrid helicopter/airplane project, which he said would bring up to 300 jobs to the city.
The contracts were never awarded and the loan was not repaid under the agreed terms, despite extensions and renegotiations over the years.
City Attorney Kinley Hegglund said the city’s economic development corporation voted Thursday to authorize the group’s chairman, Leo Lane, to begin collecting the funds.
“He (Lane) has the authority to do whatever he (Lane) deems appropriate after consulting with the lawyers,” Hegglund said.
He said this does not necessarily mean there will be litigation first.
“That’s always a possibility, but he would start with a less serious complaint,” Hegglund said.
Carter’s company had proposed developing a combination helicopter and fixed-wing aircraft capable of flying nonstop to New York City at 500 miles per hour.
Speaking to the EDC board in October 2022, Carter blamed his insolvency on “dirty tricks” by others in the aerospace industry and military leadership. He also said the planned aircraft would be built in Canada – not in Wichita Falls.
Also on Thursday:
- Approved a $1 million interest-free loan to build a central support center at MSU Texas for military members.
- Regal Rexnord Corp. signed its application for a $37,500 cash-for-jobs deal to create a new manufacturing line and five new jobs at the company’s Wichita Clutch plant in Wichita Falls.
- Approved annual budget requests from the Sheppard Military Affairs Committee, Chamber of Commerce, Downtown Wichita Falls Development, and ideaWF at Midwestern State University.
The EDC board’s money for providing incentives comes from a portion of the sales tax paid in Wichita Falls. The City Council has the final say on all business.
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