TRAVEL BANK
CONTRACTS DUE THIS THURSDAY, DEC 30TH AS DEPOSITS REACH
$310,000
After
raising over $650,000 from local businesses for the Delta Air
Lines Travel Bank, Economic Development for Central Oregon is
working against a Dec. 30 deadline for collecting actual
deposits and contracts from participating companies.
Deposits have reached $310,000 towards the $654,000 actual
amount pledged by 125 companies. Final contracts with Delta
will be complete when Airline Travel Bank funds are deposited
to secure two daily round trip flights from Redmond to Salt
Lake City beginning March 1, 2005.
As part of a proposal made to Delta in August, the local
incentive package included a $500,000 federal grant from the
Department of Transportation, $450,000 in marketing resources
and $500,000 revenue guarantee provided through the Travel
Bank. The Central Oregon business community dramatically
exceeded the required $500,000 by pledging $654,000 towards the
Travel Bank.
Delta Connection recently announced a March 1 start for
twice-daily service between Redmond's Roberts Fields and its
Salt Lake City hub.
The Travel Bank represents pre-paid travel committed by
businesses and is designed to assure Delta that if it invests
in the region, it will have passengers during the critical 12
month start up period for airlines. Travel Bank funds can be
used on Delta Air Lines and its code-share partners for travel
anywhere Delta flies.
Economic Development for Central Oregon (EDCO) is a
membership-based, private, nonprofit organization dedicated to
building a strong and secure economic future for Central
Oregon. Learn more about EDCO at www.edforco.org.
Signed
contracts and deposits can be delivered to EDCO's office
at 20380 Halfway Road, Suite C in NW Bend off Empire Ave.
next to All Season RV & Marina and
Fedex.
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