The Miami-Dade County Commission unanimously approved a 40-year lease agreement on July 16th with Miami Gateway Partners LLC, a joint venture between Airis Aviation Development and Vantage Airport Group. This partnership will invest a minimum of $400 million to construct a four-level automated vertical cargo handling structure called the Vertically Integrated Cargo Community (VICC) at Miami International Airport (MIA). The new facility is expected to be completed by 2029.
Miami-Dade County officials have stated that the construction of the Vertically Integrated Cargo Community (VICC) would mark a milestone as the first of its kind in North America. This state-of-the-art cargo handling facility is set to significantly enhance Miami International Airport's cargo processing capabilities, leading to a surge in the flow of goods in and out of South Florida.
This development is projected to increase MIA's cargo capacity by at least 50%, from 3 million tons to 4.5 million tons annually. This expansion is crucial to meet the anticipated cargo volume growth, projected to reach 4 million tons by 2031 and 5 million tons by 2041. Without this expansion, MIA risked losing its market share to competing airports and jeopardizing its status as a premier cargo hub.
The VICC project is expected to generate substantial economic benefits, including the creation of over 8,500 construction jobs and 2,500 permanent post-construction jobs. Miami Gateway Partners has also committed to engaging a design and build team with 60% of the firms headquartered in Miami-Dade County, further boosting the local economy.
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