R.A. Wiedemann & Associates, Inc., performed a business plan for Hamilton Airport in 2004. Issues considered by the plan included an assessment of current management structure, attraction of additional corporate aviation, development of hangars, consideration of airport noise, airport maintenance responsibility, municipal tax issues, and economic impact assessment. The recommended plan of action included three primary strategic initiatives:
1) Renegotiation of the FBO Lease: The key for improved financial performance at the Airport will be the adjustment of fees through a new FBO lease. In this regard, it was recommended that the Village receive the major share of hangar revenues (90 percent), while paying the FBO a collection fee (10 percent). The new lease would also require an FBO to provide daily Airport management, aircraft maintenance, and fuel service.
2) Attraction of Corporate Aviation: A strategic shift toward the attraction of corporate aviation will bolster revenues and on-airport employment. It was recommended that the Village initiate a direct marketing program for corporate aircraft owners within a 100-mile radius of Hamilton.
3) Hangar Development: Using FAA grants, it was recommended that the Village construct a 10-unit T-hangar to provide additional revenues for the Airport operation. Both corporate conventional hangars and T-hangars will be needed in the future. In marketing corporate aviation, one of two methods for conventional hangar construction was expected to emerge: a) Corporate interests construct a conventional hangar on leased property, or, b) The Village constructs the hangar with long-term lease agreement guarantees that will repay the Village for construction costs. Additional hangar development will contribute to the growth of the Airport and its aviation activity base.