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Concord City Council approves grant to attract indoor skydiving company to Concord

Concord City Council approves grant to attract indoor skydiving company to Concord

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CONCORD — Concord City Council has approved an incentive grant that could attract an indoor skydiving company to Concord that could invest $10 million in the community.

The council approved the grant during their regularly scheduled meeting Thursday.

The proposed incentive grant is for SkyGroup Investments, LLC, a subsidiary of iFLY Holdings. The incentive grant is being offered in an effort to attract the company here, but no financial decisions have been made, officials said.

If SkyGroup/iFly Holdings moves forward on the project, it looks to be constructed at 7840 Lyles Lane, Concord. The company could create a 6,000 square foot location and plan to create 18 full-time employee positions, with an annual salary of $40,000 and eight part eight part-time positions with an average salary of $16,000.

The company expects to bring 50,000 to 60,000 customers annually.

“iFLY is the experiential entertainment company that created modern indoor skydiving,” according to the company’s website. “We make the dream of flight a reality by giving our customers ‘wings’ in a safe and reliable environment.”

iFLY started in 1998 as SkyVenture, LLC and opened their first indoor skydiving facility in 1999. Between 1999 and 2005, iFLY opened three more facilities. Today, iFLY has 37 locations around the world in the US, Canada, Europe and Asia.

Concord City Council approved a grant that would reimburse 85 percent  of the company’s property taxes over a three year period. The company looks to pay $144,000 in city taxes over three years and be reimbursed $122,400 with the city netting $21,600 during that three year period.

 

 

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