Bangor committee approves airport lease, explores AI and business retention initiatives

The Business and Economic Development Committee approved a new five-year lease for Varney Aviation at Bangor International Airport and discussed two new initiatives involving the Root Institute. The committee also voted to enter executive session to discuss the sale of two city-owned properties.

Key points

• The committee approved a new lease for Varney Aviation with a starting rent of $2,523.53 per month and a five-year term.
• Staff presented a partnership with the Root Institute to support business retention and entrepreneurship in Bangor.
• The committee discussed a potential AI hub collaboration between the University of Maine and the Root Institute.
• Councilor Michael Beck suggested creating a pipeline to connect high school students with the new programs.
• The committee voted unanimously to enter executive session to discuss the sale of properties at 45 Allen Street and 299 Essex Street.

Next steps

• The Root Institute will begin outreach to existing businesses for the fall program.
• Staff will continue to explore the AI hub partnership with the University of Maine.

Read the full transcript