JetZero Commits to Landmark 30-Year Lease Agreement at Long Beach Airport

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PRESS RELEASE

Above: Conceptual rendering of the future JetZero Design Center in Long Beach. Courtesy of JetZero.

Long Beach, CA - Long Beach Airport (LGB) is proud to announce a new 30-year lease agreement with JetZero, Inc., a pioneer in next-generation aircraft design. The long-term commitment and plans for expansion cement JetZero's Design Center at LGB, reinforcing the Airport's legacy as a hub for aerospace innovation and advancement.

"Long Beach has been home to aviation firsts for more than a century, and with this agreement, we are doubling down on that history and carrying that tradition forward," said Mayor Rex Richardson. "JetZero's commitment to Long Beach Airport means more jobs for our residents and strengthens our City's role as a hub for aerospace innovation."

Under the new agreement, approved by the Long Beach City Council with a 7 to 0 vote at the Tuesday, Oct.14 meeting, JetZero will extend its lease on approximately 16.5 acres at LGB for 30 years. It enables the company to move forward with $50 million in planned capital improvements to transform the campus, including a two-story atrium entrance, a Customer Experience Center, a wellness facility with a cafe and fitness center and other enhancements to support a growing workforce.

"This agreement represents a major investment in Long Beach's future," said Fifth District Councilwoman Megan Kerr. "JetZero's decision to solidify its presence in our city means continued momentum for Long Beach as a center of aerospace excellence and as a leader in the next generation of sustainable, efficient aviation."

"Long Beach has always been at the forefront of aviation innovation, and JetZero's investment here reaffirms that our city is the place where the future of flight belongs," said Fourth District Councilman Daryl Supernaw. "We're proud to be home to a company that's reinventing air travel."

JetZero, which established operations at the former Gulfstream service facility in October 2023, is leading the development of a groundbreaking all-wing airplane - a design that could revolutionize the efficiency and sustainability of commercial aviation. The company recently announced plans to establish its first production facility in Greensboro, North Carolina while keeping its Design Center firmly rooted in Long Beach.

"Long Beach has always been at the heart of JetZero's innovation, and we're proud to continue designing the future of flight right here at our Design Center," said Tom O'Leary, JetZero CEO and co-founder. "Long Beach remains our home for advanced concepts and breakthrough aircraft design. This lease extension gives us the stability to invest in our team and facilities in Long Beach, ensuring we keep one foot firmly planted on Space Beach as we redefine what's possible in aviation."

The current term of JetZero's lease was set to expire in March 2029. With the new 30-year term, which will extend the lease through March 13, 2059 with an option to renew for an additional five-year period, the company will have the certainty needed to expand operations while anchoring its vision for next-generation aviation in Long Beach.

"This long-term lease secures JetZero's future here at Long Beach Airport and highlights the unique environment we provide for aerospace companies to thrive," said Airport Director Cynthia Guidry. "JetZero's investment demonstrates confidence in LGB as a place where aviation innovation takes flight."

Long Beach Airport, ranked the second-best airport in the nation by The Washington Post, is centrally located between Los Angeles and Orange counties. Its carriers-Delta Air Lines, Hawaiian Airlines and Southwest Airlines-offer nonstop service to 21 destinations nationwide, including Hawaii, with one-stop connections to nearly 400 cities worldwide. Learn more at lgb.org.

About the City of Long Beach
Long Beach is nestled along the Southern California coast and home to approximately 466,000 people. As an award-winning full-service charter city, Long Beach offers the amenities of a metropolitan city while maintaining a strong sense of individual and diverse neighborhoods, culture, and community. With a bustling downtown and over six miles of scenic beaches, Long Beach is a renowned tourist and business destination and home to the iconic Queen Mary, nationally recognized Aquarium of the Pacific and Long Beach Airport, the award-winning Long Beach Convention and Entertainment Center and world-class Port of Long Beach.

For more information about the City of Long Beach, visit longbeach.gov/. Follow us on social to keep up with the latest news: Facebook, X, Instagram and YouTube. More information about Long Beach Airport is available at lgb.org and on Facebook, Instagram and X @LGBAirport.

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