The $82 million dollar project will house aircraft owned by the company on 29 acres of converted parking lots at the Mineta San Jose International Airport. Working in partnership with Signature Flight Support the new digs will include an executive terminal, seven hangars (five for Google, apparently), ramp space for converted airliners and servicing facilities.
The three executive own about a dozen planes through a holding company called Blue City Holdings. To maintain each plane in a hangar at their airport costs $15-$20,000 per month.
Page and Brin are worth $23 billion apiece. Schmidt’s net worth is estimated at $8.2 billion, so these guys won’t feel too much of a pinch for the project.
The development will generate around 150-200 construction jobs and 36 permanent on-airport jobs plus hundreds more off-airport. But for Google executives and other Silicon Valley bigwigs, it’ll be an elegant and efficient way to start their journeys.