Phoenix-Mesa Gateway Airport Authority’s (PMGAA) board of directors has voted unanimously to select Mesa SkyBridge as master developer for the construction of the Gateway Aerospace Park.

The development will help generate several new job opportunities and add hundreds of millions of dollars in Arizona’s regional economy.

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To be named SkyBridge Arizona, the new aerospace park will be built on a piece of 360-acre vacant land at the airport.

PMGAA board of directors chair Gilbert Mayor Jenn Daniels said: “We are excited to partner with an experienced master developer that brings a unique vision and private resources to help broaden Phoenix-Mesa Gateway Airport’s role as a major economic catalyst for the region.

“SkyBridge will be responsible for investing between $20m and $25m in infrastructure.”

“This development project will enable the airport to become an even greater asset for the entire Phoenix East Valley.”

Under the terms of the deal, SkyBridge will be responsible for investing between $20m and $25m in infrastructure, as well as help promote and market the several strengths and benefits of the US hub.

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Mesa Mayor John Giles said: “This project and SkyBridge’s investment will create the kind of long-term economic sustainability that has been envisioned for Gateway Airport for nearly 25 years.

“Today’s signing of the master development agreement clears the next hurdle and moves us closer to bringing thousands of high-wage jobs to the Phoenix East Valley.”

Once completed, the aerospace park could encompass up to 5 million square feet of offices, warehouses, and logistics/cargo, hospitality, and retail spaces.

It is expected to serve as an air logistics hub focused on transporting high-value goods and accelerate the movement of air cargo between Mexico, Latin America and the US.