US agency approves USD300m bond issue for DHL
The Dayton-Montgomery County Port Authority on Friday approved the issuance of $300 million in tax-exempt airport revenue bonds for the DHL air freight hub expansion in Wilmington, capping a nearly twoyear financing ordeal.
“This is a good day. I can’t tell you how happy I am,” Port Authority President and Executive Director Ronald J. Parker said.
The approval allows the port authority to reimburse DHL Worldwide Express for about $200 million it has spent on construction at the former Airborne Express hub.
It follows the settlement of a lawsuit last month by the Clinton County Port Authority that had kept DHL’s financing in limbo since December 2004.
Clinton County formed its own port authority and challenged Montgomery County’s right to work in that county after DHL asked the Montgomery County port authority for assistance.
Michael Schmitt, DHL’s on-site hub director, said the air freight company is on track to add 300 full-time and 600 part-time jobs.
He said the company has hired a dozen full-time managers and an uncounted number of part-time workers from the Menlo Worldwide air freight hub at Dayton International Airport, which owner United Parcel Service plans to close in June.
“I know there’s a significant number of (DHL hub) employees coming from Montgomery County,” he said.
DHL is relocating its air freight hub operation from Cincinnati/Northern Kentucky International Airport to Wilmington.
