The Advertiser: State reaches settlement on Bell Helicopter deal after project grounded

Local

LAFAYETTE, La. (Greg Hilburn)- The state has reached a settlement with Bell Helicopter, closing the books on an economic development project that never took flight in Lafayette.

Louisiana Economic Development Secretary Don Pierson confirmed the general details of the statement when contacted by USA Today Network, which has requested a copy of the settlement from the department, The Daily Advertiser reported. 

Pierson said the settlement requires Bell Helicopter to pay the state about $9.5 million in cash. The state also will retain a helicopter that has been placed in the State Police fleet. It is valued at about $4 million.

Louisiana also continues to own the $26 million aviation facility that the Lafayette Airport Commission has now agreed to lease to Kopter Group AG.

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