Chapter 250: Considering Relocation of the Test Airfield

"Building a highway? That's a hefty investment," Paulson muttered in disbelief after hearing Carter's plan.

"It's got to be at least a billion, right?"

"Exactly, the total budget is just over three billion, and we're still short about 1.4 billion. I'm just here to finalize the toll agreement. Once we have a guaranteed contract, it'll be easier to secure funding from retirement and pension funds."

Taking a bite of his meal, Carter looked up with a slight smile.

He honestly had no other purpose for visiting Gulfstream except to catch up with old acquaintances and maintain a presence. Without any ulterior motives toward Paulson, Carter felt particularly relaxed as he ate and chatted.

"What a feat! Around this time last year, you were just taking over that small bank. Now, you're dealing in the billions," Paulson exclaimed, clearly impressed.

After expressing his admiration, Paulson lowered his voice and looked around cautiously before whispering, "Tell me honestly, did you rob a bank? Maybe Chase Manhattan or something?"

"Hahaha, of course not. I personally invested only a few million, and I haven't even gathered it all yet. The rest of the billion-plus is borrowed!"

"Even so, raising a billion dollars is no small feat. Not just anyone can do that."

After some playful banter and mutual compliments, Paulson seemed to remember something. He suddenly asked, "By the way, how do you plan to ensure the traffic volume for this highway? If the traffic isn't substantial enough, even with a guaranteed agreement, the project might not be viable."

"Yes, that's a crucial point. Here's what I'm thinking: Columbus and Albany are both sizable cities with military bases, which creates a high demand for imported consumer goods. Additionally, I'm planning a business attraction project and have already negotiated with a Japanese company, something called 'Sanri' or similar. They manufacture auto parts and will set up a large factory in our area. Combining all these factors, the revenue should be satisfactory."

After finishing his meal, Carter followed Paulson to his office, continuing the conversation as they walked.

"Moreover, we have a twenty-year toll period. With gradual development, there's bound to be an uptick," Carter added.

"You're making me tempted to invest, haha! Come in, please. Coffee, as usual?"

The office looked the same as it did last year. Settling into his former seat, Carter nodded with a smile.

"What, is Paulson Uncle interested in investing? Haha, whether it's fifty thousand or a couple hundred thousand, I won't turn it down!"

"Forget it. My current situation isn't exactly rosy; I don't have the funds for such a large project."

"Not going well? But didn't the new plane successfully have its maiden flight at the end of last year?"

"The airworthiness certificate hasn't been issued yet, and we're solely relying on Gulfstream II to generate revenue. Until Gulfstream III can enter the market, I can't recover my research and development investments. Investing in your highway project isn't feasible for me right now."

After instructing his secretary to bring two coffees and some snacks, Paulson sat back down.

"Gulfstream is still an aircraft manufacturing company, even if it's not large. Our personnel costs are comparable to a mid-sized factory. The Gulfstream II has some issues with its fuel tank design—not really problems, but it's not suited to current times.

"With lower fuel capacity and shorter range, it can't meet the needs of an increasingly international era. Additionally, it hasn't seen many updates since we shifted focus to Gulfstream III in '78. Given the current economic environment, Gulfstream II's sales aren't looking good. I've been considering selling this airport or relocating some of the factory to sustain us for a while. Your suggestion gave me an idea."

"You mean moving Gulfstream to my area?"

Wow, did I step in luck recently? One surprise after another!

"No, no, Gulfstream won't move. I have some preferential policies with Savannah, and it's convenient here. I'm only considering selling this airport and relocating the test airfield."

Paulson smiled and shook his head, offering a reasonable explanation.

"The land price in Savannah is quite high. This airport incurs significant annual taxes. For a facility used solely for test flights, the utilization rate is too low compared to the costs, leading to resource wastage."

"I don't want to fire my workers or sell my equipment because selling them is easy, but buying them back is difficult. These people and equipment aren't like vegetables at a market."

"So, after much thought, selling the airport seems the only viable route. I've been pondering where to move, and then you showed up! If your highway gets built, it would be very convenient for me, haha!"

Carter completely understood Paulson's reasoning.

Aerospace engineers are high-end technical talents in the manufacturing industry. Unlike construction workers, they're not easy to recruit. Once dispersed, regrouping such a talented team in the future would be costly, even if possible.

The current team knows Gulfstream's requirements inside out. They are intimately familiar with the technical and performance specifications, design structures, and can immediately address any issues. Bringing in new people would require a significant adaptation period.

Considering this, Paulson's idea to sell the airport seemed like a smart, albeit indirect, solution. Carter was only a bit regretful that he didn't have extra funds to invest in Gulfstream at this opportune moment.

"Well, it's not just convenient for you. By the way, is it easy to sell an airport? The price shouldn't be low. The runway looks quite long, and the land area is substantial."

With no ability to invest at the moment and recognizing that relocating the test airfield wouldn't be an immediate process, Carter continued the conversation casually, asking as an old friend might.

"This airport won't be hard to sell. We have two major deep-water ports nearby: the Savannah Port and the Brunswick Port, both within close proximity. So, we have plenty of logistics companies around!"

"To be honest, people have been eyeing this airport for a while. These logistics companies want to buy it together to use it for express parcel transfers. This would significantly enhance their overall operations and corporate image. They would buy it just to differentiate themselves from other logistics companies and use it for advertising."

"I'm not worried about selling the airport. My concern is the new test airfield. Building a new one? I don't have the funds. Using an existing airport? The locations aren't suitable."