State Farm's latest investment is gearing up for takeoff, as the insurer awaits approval for its $21.5 million project which will look to build an additional hangar at the Central Illinois Regional Airport.
The airport has submitted the proposed expansion plan to the city of Bloomington - where State Farm is headquartered - for approval. The new hangar will be built southwest of State Farm's current exclusive hangar, next to an old airport terminal.
According to Central Illinois Regional Airport director Carl Olson, State Farm wants to replace the hangar it has been using at the airport since 1999 to fly out its corporate travelers. Olson also noted that parts of the aging facility are nearly 40 years old.
“Over the years, State Farm has retrofitted and added space to the hangar, but they have reached the point where they have advised the [Bloomington-Normal] Airport Authority that the current facility can no longer meet the needs of their organization,” the director said.
Olson also explained that the airport authority owns the grounds, but State Farm leases the space.
State Farm also explained in a statement that the construction of a new hangar will enable a safer and more effective workspace for its flight operations.
“We have renovated our current hangar over the past 20 years to meet business needs, we must invest in further infrastructure improvements,” said State Farm spokesperson Gina Morss-Fische. “This investment is an example of our commitment to the Twin Cities.”
Normal, IL-based radio station WGLT reported that the proposed project will include the construction of a new hangar, with both indoor and outdoor parking, as well as a storage bay for planes and office spaces.
Once the project is approved. State Farm indicated that it expects construction to be completed by next January.
