Saturday, July 21, 2012

Report: Fighter Jets Don't Impact Property Values

FOX44 - Burlington / Plattsburgh News, Weather 

 Burlington, Vt. - A new study could change the debate over bringing F-35 fighter jets to the Burlington area. 

 The study by the Greater Burlington Industrial Corporation looked at home values in Winooski and South Burlington, specifically in the areas that are currently affected by noise from the Vermont Air Guard's F-16 fighter jets.

Over a ten year period, the GBIC found that home values in the F-16 area did not differ from home values in other communities near by. And since property impacted by the F-16s is in the same area as property that could be impacted by the F-35s, GBIC's president, Frank Cioffi, believes that the newer, faster jets, will not have a negative impact on home values.

"We think the indication of the past is pretty much the way the future is going to go. I've lived here my whole life in this region. This is the fifth iteration of fighter planes I believe," Cioffi said.

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