Green Bay Austin Straubel International Airport is taking steps to increase its competitiveness by hiring a private management company, Vantage Group. The move aims to help the airport better compete with the Appleton International Airport, which had about half a million more passengers last year.

Private Management Company

The county board will vote on an agreement with Vantage Group to take over operations of Austin Straubel. According to Brown County Board Chair Patrick Buckley, discussions with Vantage have been ongoing for about a year. The airport operates as an enterprise fund, using its own revenue to cover expenses, and is county-owned.

Vantage Group has been in operation since 1994 and manages approximately $8 billion in assets. The cost to bring them in is significantly higher than what the county’s airport fund is currently paying for airport management. This change will eliminate the airport’s top three managers, who combined made $337,128. Vantage’s services will cost $950,000 annually, plus compensation for three employees and incentive payments, including if ridership grows 3% or more in measured periods. There’s also a one-time $350,000 mobilization fee.

Last year, 723,245 passengers traveled through the airport, compared to 1,267,634 for Appleton. The peak for Austin Straubel was 20 years ago, with 906,630 travelers. The hiring of a private management company is seen as an important step for Brown County to take the airport into the future, although it will come at a significant cost.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.