Steve Johnston, Director, Human Resources, Piper Aircraft, Inc.

We view today’s (May 9, 2007) unanimous vote by the Vero Beach City Council and the Indian River County Commissioners to develop a package of financial incentives to improve the business climate for Piper Aircraft and our expansion plans as a sign that there is a legitimate local effort underway to partner with Piper.

While the local project team has clearly been working hard to present a substantive package, not all of the details of that proposal have been developed.  Over the next several weeks we are looking forward to seeing the full scope of the local proposal and will begin the process of comparing the cost of doing business in Vero Beach against the data from competing cities and states.

As previously communicated, Piper Aircraft and a site selection consultant are currently engaged in conducting site selection activities for the company’s existing operations and anticipated future growth and are considering several communities as part of that process.

Our facilities in Vero Beach have served us well for the last 50 years.  As we enter our next generation of production and prepare to launch the PiperJet, we owe it to our employees, customers and shareholders to make certain that we have the optimal location and state of the art facilities to ensure our competitiveness within the General Aviation industry.  Conducting a thorough and accurate comparison of these communities and their available real estate, job markets, economic cost factors and business incentives is a complex and lengthy process.  Piper is committed to making the best possible site decision, and consequently will take the necessary time to make a thorough decision.

As part of the site selection process, we have been working closely with individuals from both the city of Vero Beach and Indian River County to explore options for expanding Piper’s operations locally in the event we remain in Vero Beach.  We are very appreciative of the high level of professionalism that local officials have shown throughout this process and their respect for Piper’s request for confidentiality.  The ongoing effort of these individuals represents the best of Vero Beach, and is highly appreciated by the entire Piper organization.

Piper will celebrate its 70th anniversary this year and believes that this is one of the most dynamic and exciting times in the company’s history.  As a leading manufacturer of General Aviation aircraft from piston to turbine powered planes and soon to be produced PiperJet, we are committed to being second to none.

Original Release