R.A. Wiedemann & Associates, Inc. was retained to help determine whether or not the Camden County Improvement Authority should acquire a privately owned, public-use airport.
To perform this study, R.A. Wiedemann & Associates developed financial pro formas for the facility along with an in-depth economic impact assessment.
Potential management structures were examined as well. Given the fact that the airport could not be expanded and that it served only a small portion of the existing businesses in the County, the analysis had to rely upon the financial pro forma estimates to determine the viability of the facility. In this regard, it was determined that the airport could break even within five years, however, it would not be able to generate enough revenue to cover the local share of capital improvements.
The County was looking for a scenario that would permit them to own the airport, yet not have to contribute toward its operation and improvement. Because these conditions could not be met, the County called off its bid to buy the airport, ultimately saving money in the long term.