Wichita Falls city and economic development officials continue discussing a proposed loan extension for Carter Aviation Technologies.
Carter Aviation officials are looking at repaying a $3-million dollar loan from the City of Wichita Falls and say they have something in the works that could have the company skyrocketing to a new height.
The company is hosting their first-ever public showcase Saturday.
Local company Carter Aviation Technologies is again moving into the leading edge of flight technology. The company just landed a $2.2 million contract to develop technology that the US Navy says is vital to ensuring American superiority in the battle field.
According to an agreement, the 4A Board matched loans given to Carter Aviation Technology by AAI. Now the company's agreement with AAI has changed, and Carter employees hope their agreement with the 4A Board will change, too.
Carter Aviation Technologies showed off its new Wichita Falls facility during a ribbon-cutting ceremony and tour today.
Carter's personal air vehicle can take off vertically, like a helicopter -- but can fly as fast as a fixed- wing aircraft.
Katie Crosbie joins us now with an update.
In 2009, the company announced it was that it was exclusively licensing its "unmanned aerial vehicle technology" to AAI, which is one of the largest suppliers of military UAV's.
Now, Carter is finishing flight-testing its personal aircraft, and getting ready to build prototypes here.