The Western Reserve Port Authority provided conduit debt financing to the Pittsburgh Institute of Aeronautics for the purpose of making improvements to the hangar building. Pittsburgh Institute of Aeronautics (PIA) is an aviation technical school established in 1929 for the purpose of training and educating professional pilots and aviation experts. It has 95 employees, located in Vienna, Ohio adjacent to the Youngstown-Warren Regional Airport.
“Our expansion is a pivotal first step in the significant renovation and expansion of the learning environment and technology available to our students,” said Suzanne Markle, PIA executive vice president. “Ohio has a strong history in aviation, and PIA continues to play a large part in the growth and development of the aviation industry.”
The PIA is planning improvements and 8.500 square foot 2-story addition to the existing hangar to facilitate training activities. The addition will be primarily offices and classrooms. The Hangar was purchased from the Western Reserve Port Authority in conjunction with a 30-year ground lease.
“Residents and employers of the region are fortunate to have the specialized training that’s available at PIA,” said John Moliterno, port authority executive director. “Their presence makes it possible for young people of the Mahoning Valley to stay here for the type of training that can lead to high-demand careers as well as attract new people to the area.”
An analysis by the Atlanta Journal Constitution forecasts the aviation industry will need 34,000 new aircraft by 2031, and a pilot and technical outlook by aviation giant Boeing projects that commercial airlines will require 601,000 new aircraft maintenance technicians over the next 20 years to maintain that fleet.