Long Beach, CA — Long Beach Airport (LGB) has announced a new 30-year lease agreement with JetZero, Inc., a leader in next-generation aircraft design, solidifying the company’s Design Center at LGB and reaffirming the city’s reputation as a hub for aerospace innovation.
“Long Beach has been home to aviation firsts for more than a century, and with this agreement, we are doubling down on that history and carrying that tradition forward,” said Mayor Rex Richardson. “JetZero’s commitment to Long Beach Airport means more jobs for our residents and strengthens our City’s role as a hub for aerospace innovation.”
Approved unanimously by the Long Beach City Council on Oct. 14, the agreement extends JetZero’s lease on 16.5 acres at the airport through 2059, with an option for a five-year renewal. The company plans to invest $50 million in capital improvements, including a two-story atrium entrance, a Customer Experience Center, a wellness facility, and other upgrades to support its expanding workforce.
“This agreement represents a major investment in Long Beach’s future,” said Fifth District Councilwoman Megan Kerr. “JetZero’s decision to solidify its presence in our city means continued momentum for Long Beach as a center of aerospace excellence and as a leader in the next generation of sustainable, efficient aviation.”
JetZero, which began operations at the former Gulfstream facility in 2023, is developing a revolutionary all-wing aircraft designed to improve fuel efficiency and sustainability in commercial aviation. While the company’s first production site will be in Greensboro, North Carolina, its Design Center will remain in Long Beach, the heart of its innovation.
“Long Beach has always been at the heart of JetZero’s innovation, and we’re proud to continue designing the future of flight right here at our Design Center,” said Tom O’Leary, JetZero CEO and co-founder. “Long Beach remains our home for advanced concepts and breakthrough aircraft design. This lease extension gives us the stability to invest in our team and facilities in Long Beach, ensuring we keep one foot firmly planted on Space Beach as we redefine what’s possible in aviation.”
“This long-term lease secures JetZero’s future here at Long Beach Airport and highlights the unique environment we provide for aerospace companies to thrive,” said Airport Director Cynthia Guidry. “JetZero’s investment demonstrates confidence in LGB as a place where aviation innovation takes flight.”
Ranked the second-best airport in the nation by The Washington Post, Long Beach Airport continues to be a cornerstone of Southern California aviation, connecting travelers to 21 nonstop destinations and nearly 400 cities worldwide.
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