The Sebring Regional Airport & Industrial Park Community Redevelopment Agency Revenue Stream Secured for 30 Years

Sebring Regional Airport & Industrial Park (through (CRA) Community Redevelopment Agency) will now have funding until 2045 according to a $133.8 million redevelopment plan presented Tuesday, February 2nd at the meeting of Highlands County Board of County Commissioners (BOCC).

The CRA plan commits to improving the four main activities of the airport: Industrial Park Development, Airport Infrastructure/Economic Development, Sebring International Raceway Infrastructure and U.S. Sport Aviation Expo Economic Development.

In 1996, the BOCC formed the CRA. CRA is a government agency created to expand and develop the boundaries of Sebring Regional Airport. The CRA mission is to improve economy and promote the redevelopment of the property within the CRA district.

The current update visualizes the future to the year 2045. The purpose of the plan update is to guide redevelopment of the area previously designated by the BOCC as a blighted area.

The plan proposes a modified list of capital projects funded with increment revenues and also extends the time period for the financing out to 2045—an essential element in maintaining a viable plan.

The new plan will also drive future economic growth and job creation within the CRA.

Sebring International Raceway and the U.S. Sport Aviation Expo are both major tourism attractions for Highlands County, and are major marketing assets for the airport and industrial park and this funding will ensure positive growth of the regions economy,” Said Mike Willingham, Executive Director for the Sebring Regional Airport.

The four-targeted activities in the plan are:

  1. Continued Growth of the Airport and related aviation improvements.
  2. Continued expansion of the Industrial Park as a competitive master planned facility with an aggressive capital improvement program.
  3. Improvements to the Sebring International Raceway to maintain and expand as critical revenue source for the CRA’s operations.
  4. Facilitate the sponsorship of the U.S. Sport Aviation Expo annual event. The Aviation Expo draws about 20,000, the raceway reports 150,000 in yearly attendance.

About Sebring Regional Airport & Industrial Commerce Park
Sebring Regional Airport (SRA) is a 2,000-acre commerce park and airport. The airport is a designated Foreign Trade Zone offering many tax benefits and is home to Sebring International Raceway. Two years ago, Sebring was named in the State Aviation System Plan as the growth airport for South Central Florida. SRA celebrated the 12th anniversary for U.S. Sport Aviation Expo in 2016.

Contact: Mike Willingham