Four members of the Dothan Airport Authority gathered Friday morning to approve a lease and incentives for a new tenant at the airport to replace Pemco, which closed last year.
Airport Authority Chairman Charles Nailen said the announcement of the new tenant comes a year to the day of when Pemco filed for bankruptcy. The long-time aircraft maintenance company closed in late 2012.
The lease agreement, which includes some of the property formerly occupied by Pemco, also includes 30 hours a week of air traffic control services.
The airport authority also approved a construction contract in excess of $13 million to do work on the property.
To help pay for some of this, the authority will receive $7,565,000 in an industrial development grant. The rest of the money needed for the construction will come through $6 million in tax exempt bonds.