CHARLOTTE – There’s $350 million in the N.C. Senate budget version for Navy hanger facilities at the Global TransPark in Kinston.

The Navy would use this property as an extension of Fleet Readiness Center East, the massive aviation maintenance and repair depot at Marine Corps Air Station Cherry Point in Havelock.

FRC East would get the maintenance and repair work on Navy and Marine C-130s, large transport planes, that are being worked on elsewhere. The Navy would pay to lease these TransPark facilities, at least $15 million a year, and that is how the state outlay would be paid back over time.

If approved, the new hangers would be a big win for the TransPark, a state operation that was created 30 years ago to promote economic development in eastern North Carolina. It would further cement the relationship between 4,000-employee FRC East, the largest industrial employer east of Interstate 95, and the TransPark.

For more details, read the full story at Business North Carolina.