The Only Way is Up: Increasing passenger numbers encouraging for Mississippi Delta
by Georgina
Three years on from one of the most devastating natural disasters in United States history and, according to the National Hurricane Center, the costliest hurricane to ever hit the US, the region severely hit by Hurricane Katrina is recovering and once again returning to prosperity.
The latest data from Gulfport Biloxi Airport located in the Mississippi Delta which was affected by the hurricane of 2005, show that numbers passing through the airport are increasing with 83,524 passengers using Gulfport Biloxi Airport in June 2008, up 2.6% on the 2007 figure of 81,428 according to flygpt.com.
Well-situated to serve a diverse customer base of business, tourist and military personnel, Gulfport Biloxi Airport has even greater plans for the future with a major €51 million expansion project set to complete later this year. This expansion will increase the airport’s square footage by 80% and allow a further two airlines to use the airport, in turn increasing passenger handling capabilities.
Not only this but the regeneration and further expansion of the area’s famous casinos, now that a new ruling has allowed them to be built on land, means that the number of people relocating to the region for the newly generated jobs is likely to increase, subsequently growing Gulfport Biloxi Airport passenger figures further as well as the need for accommodation.
And it is not only the airport that is set for expansion. The local port in Gulfport has also been highlighted for growth, with the Mississippi State Port Authority proposing development that would expand the current port to five times its size. This growth, also taking in new road and rail developments and retail projects, could take up to ten years to complete but in the words of Mayor Brent Warr, is an “unbelievable opportunity”.
This is all good news for the region as a whole, with increased visitors aiding the recovering economy. Danny Silver, Principal of Property Direct America agrees, “Those investing in real estate in the Mississippi Delta region are set to see healthy financial gains in forthcoming months and years as the region continues to renew and more and more people visit and relocate to the area.”
One example of such a real estate investment project is in Biloxi itself: Bayside Park is a new development attracting overseas investors who see the potential for capital gains. 90% loan to value mortgages are available as well as excellent financial and tax incentives being offered with government support. This means that foreign investors can invest in sturdy and energy efficient homes from as little as £88,000/ $159,900. For more information please contact Property Direct America on 0207 043 0792 or visit www.propertydirectamerica.com.
