Airline Will Make Its Home in NYC

NEW YORK CITY-An estimated $69 million in economic impact will be brought into the city as a result of the Virgin-branded low-fare airline being headquartered here for the next 15 years. Cushman & Wakefield is supervising the search process for an appropriate home. The company will create 600 new jobs within the next five years and that number is expected to reach as high 700 jobs within 15 years. No additional detail of its search process were revealed.

The airline’s business functions such as marketing, personnel, human resources and accounting finance responsibilities will be housed here with the company shelling out an initial investment of approximately $7.5 million in renovations, equipment and employee training at the new site. For its part, Virgin will be eligible for economic incentives that will vary depending upon where they choose a location.