Air Base Property Corporation (1996 - 2002)
When the federal government announced the closure of the airside portion of local Canadian Forces Base, this came as a devastating blow to the City of North Bay. Thousands of people were once employed there, as it was home to the 414 Squadron. There were hundreds of thousands of square feet of abandoned aircraft hangars; all left to fall into decay.
In 1996, Victor Fedeli and six other civic leaders formed a non-profit company and bought the abandoned site from the federal government for $1. As the group had virtually no money, and plenty of expenses coming their way for heat, hydro, taxes, maintenance, and insurance, Vic took over as volunteer Chairman of the Board and CEO of the company. He developed a plan to lease and subsequently sell each hangar for $1, in return for taking over all the expenses for each facility and providing a set number of jobs.
This turned out to be a very exciting period for the city. Air Base Property Corporation took over the abandoned CFB North Bay airside assets and turned the area into a vibrant Aerospace Centre. It is now home to Bombardier Aerospace, building their waterbomber aircraft for worldwide delivery, and Voyageur Airways, employing 350+ people involved in repair and overhaul of aircraft from around the world. NASA spent 8 years performing winter runway friction testing, and brought international attention to the Cityís vast airport facilities. In addition, Canadore College built a brand-new $15 million School of Aviation, which provides a steady stream of employees for all the companies located in the Centre. The City of North Bay, in partnership with the federal government, resurfaced the 10,000í runway Ė one of only four in Ontario and 15 in Canada Ė as a commitment to see the aerospace sector grow.
Click Here to read about Vicís business activities from 1978-1992
Click Here to read about Vicís business activities from 1993-1995
Click Here to read about Vicís business activities in 2003
Click Here to read about Vicís business activities from 2004-2010