JetZero Commits to Landmark 30-Year Lease Agreement at Long Beach Airport
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Long Beach, CA ~ Long Beach Airport (LGB) has recently announced a new 30-year lease agreement with JetZero, Inc., a pioneering company in next-generation aircraft design. This long-term commitment solidifies JetZero's Design Center at LGB and reinforces the airport's reputation as a hub for aerospace innovation and advancement.

Mayor Rex Richardson expressed his excitement about the agreement, stating, "Long Beach has a rich history of aviation firsts and with this agreement, we are continuing that tradition and carrying it into the future." He also highlighted the positive impact this will have on the city, saying, "JetZero's commitment to Long Beach Airport means more jobs for our residents and strengthens our role as a hub for aerospace innovation."

The new lease agreement was approved by the Long Beach City Council with a unanimous vote at their meeting on Tuesday, Oct. 14. It grants JetZero an extension on their lease for approximately 16.5 acres at LGB for 30 years. This will allow the company to move forward with their planned $50 million in capital improvements to transform their campus. These improvements include a two-story atrium entrance, a Customer Experience Center, a wellness facility with a cafe and fitness center, and other enhancements to support their growing workforce.

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Fifth District Councilwoman Megan Kerr praised the agreement as an investment in Long Beach's future. She stated, "JetZero's decision to solidify its presence in our city means continued momentum for Long Beach as a center of aerospace excellence and as a leader in sustainable aviation."

Fourth District Councilman Daryl Supernaw also expressed his pride in having JetZero call Long Beach home. He said, "We're proud to be home to a company that's reinventing air travel."

JetZero first established operations at LGB in October 2023 at the former Gulfstream service facility. The company is currently leading the development of an all-wing airplane design that has the potential to revolutionize the efficiency and sustainability of commercial aviation. They recently announced plans to establish their first production facility in Greensboro, North Carolina while keeping their Design Center in Long Beach.

JetZero CEO and co-founder Tom O'Leary emphasized the importance of Long Beach in their innovation process, stating, "Long Beach has always been at the heart of JetZero's innovation, and we're proud to continue designing the future of flight right here at our Design Center." He also expressed gratitude for the lease extension, saying it gives them stability to invest in their team and facilities in Long Beach as they redefine what's possible in aviation.

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The previous term of JetZero's lease was set to expire in March 2029. With the new 30-year term, which includes an option to renew for an additional five years, the company will have the certainty needed to expand operations and anchor their vision for next-generation aviation in Long Beach.

Cynthia Guidry, Airport Director at LGB, highlighted the unique environment that LGB provides for aerospace companies to thrive. She stated, "JetZero's investment demonstrates confidence in LGB as a place where aviation innovation takes flight."

LGB is ranked as the second-best airport in the nation by The Washington Post and is centrally located between Los Angeles and Orange counties. Its carriers - Delta Air Lines, Hawaiian Airlines, and Southwest Airlines - offer nonstop service to 21 destinations nationwide with one-stop connections to nearly 400 cities worldwide. For more information about LGB, visit lgb.org.

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