In the last couple of years, Taylorcraft Aviation moved to Brownsville, Texas, and earned Special Light Sport Aircraft approval to manufacture its Taylor Sport airplane. But now the company is being evicted from its manufacturing facility at the airport and has filed for Chapter 11 bankruptcy. The company listed 23 creditors that are seeking a combined $847,400, The Brownsville Herald reported last week. Taylorcraft President Harry Ingram said he hopes to work things out and stay at the Brownsville/South Padre Island International Airport, which is operated by the city. However, city attorney Jim Goza told the Herald that it’s too late for that. “He can’t really avoid moving out,” Goza said. “At this point, the outcome is inevitable.” [more] In an editorial, the Herald criticized the Greater Brownsville Incentives Corp., a city-funded agency that repeatedly offered incentives to Taylorcraft, including a grant of $47,000 just a month ago, even as the company slid a year behind on its rent payments for the airport facility.
Taylorcraft Aviation Faces Eviction, Chapter 11
Key Takeaways:
- Taylorcraft Aviation, which recently moved to Brownsville and gained Special Light Sport Aircraft approval, is being evicted from its airport facility and has filed for Chapter 11 bankruptcy, owing $847,400 to 23 creditors.
- Despite the company president's hopes to stay, the city attorney confirmed that the eviction is unavoidable.
- The Brownsville Herald criticized a city agency for repeatedly offering incentives to Taylorcraft, including a $47,000 grant, even though the company was a year behind on rent payments.
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