JAMESTOWN, N.D. (NewsDakota.com) – Collins Aerospace and the Jamestown Stutsman Development Corporation (JSDC) are currently exploring new lease rates beginning in 2021.

Business Development Director Corry Shevlin reports that the current lease with Collins Aerospace will end in February 2021, so they have begun the conversations now to renew the agreement. He says the company has requested a 5 percent reduction in the leasing rates beginning with the new extension.

Shevlin says they currently have two proposals to meet the ask of Collins Aerospace in the new agreement.

Shevlin added it’s important to note that the company has conducted more than $500,000 in improvements to the property including roof, lighting upgrades, plumbing upgrades, and the parking lot.

Committee Member Kelly Rachel stated that it would be important to keep Collins Aerospace in Jamestown.

The committee moved to recommend the two proposals for the new lease agreement with Collin’s Aerospace.