← Trinity Air Link
T&P Warehouse Fort Worth
Business Case Document · March 2026

The Business Case
for Trinity Air Link

Trinity Air Link Transportation System | America's First Integrated eVTOL–AV Transportation Hub

A comprehensive business case demonstrating the commercial viability, strategic rationale, stakeholder value, and implementation pathway for transforming Fort Worth's T&P Warehouse into a groundbreaking multi-modal transportation hub.

$107M–$113MCapital-Light Case
24.8%Calculated IRR
Before Terminal
$500M+Economic Multiplier
2026eVTOL Ops Begin TX
Confidential Business Case — March 2026
Confidential Business Case — March 2026
TRINITY AIR LINK Business Case Document · March 2026
Section 01 · Executive Case

The Business Opportunity in One Page

The Problem

  • 8.5M DFW residents losing 174M hrs/year to congestion
  • Fort Worth: 10th worst commute in America (Forbes 2025)
  • $1,618 wasted per driver per year in fuel & lost productivity
  • $36.4B projected annual congestion cost by 2050 if unchanged
  • Highway expansion fails: induces demand within 5–7 years
  • T&P Warehouse — 100-year-old landmark — deteriorating vacant
  • No eVTOL ground infrastructure exists in DFW for aircraft arriving 2026

The Link Solution

  • Repurpose T&P Warehouse as America's first integrated eVTOL-AV hub
  • Rooftop eVTOL operations: 60–90 min trip → 10–20 min flight
  • Level 4 AV ground fleet: proven technology (Waymo 450K rides/week)
  • 120,000 sq ft Innovation Center for technology R&D (floors 2–7)
  • AI-powered multi-modal traffic management system
  • Historic preservation: $2.15M structural rehabilitation
  • Ground infrastructure for Archer/Joby eIPP aircraft arriving H2 2026
First Mover No integrated eVTOL-AV hub in any major U.S. metro — first to market captures dominant position
Proven Returns 24.8% calculated IRR before terminal value; 36.8% IRR with $480M moderate terminal value; $89.7M NPV @ 10% before terminal ($293.2M with terminal); breakeven Year 5; $133.4M Year-5 moderate revenue
Iconic Asset T&P Warehouse: historic landmark creates irreplaceable brand identity and location lock-in
Scalable Model Proven concept replicable in 50+ U.S. metros — the franchise layer of a $41B+ market
Section 02 · Strategic Rationale

Why This. Why Fort Worth. Why Now.

The Convergence Moment — March 2026

Why Fort Worth Specifically

  • Only U.S. metro with two cities over 1 million people
  • Fort Worth (1M+) is the fastest-growing DFW city yet has no planned eIPP vertiport
  • $710B regional economy needs transportation at scale
  • T&P Warehouse: central location, iconic brand, structural opportunity
  • Receptive government — city council prioritizes economic development
  • Texas Enterprise Zone and historic tax credit incentive environment

Competitive Moat

  • Historic landmark — not replicable (location and asset are unique)
  • Regulatory relationships established early create barrier to entry
  • Technology partnership exclusivity agreements where possible
  • First-mover brand recognition with customers and partners
  • Network effects: each additional route increases hub value for all users; operator-neutral platform positioning means Trinity Air Link monetizes critical infrastructure used by certified and qualified operators
  • 120,000 sq ft innovation center creates anchor tenant ecosystem
CONFIDENTIAL — Trinity Air Link Transportation System · Business Case Page 1 of 2
TRINITY AIR LINK Business Case Document · March 2026
Section 03 · Stakeholder Value

Value Created for Every Stakeholder

Government & Public Sector
  • $500M+ economic multiplier effect from hub development
  • $25M+ annual tax revenue (property, sales, income)
  • 2,500+ construction + 800+ permanent high-quality jobs
  • Historic preservation of iconic T&P Warehouse
  • Fort Worth named alongside Dallas as eIPP hub city — national recognition
  • Transportation innovation leadership positioning globally
  • 15–25% traffic reduction potential in downtown corridor
  • $431.5B infrastructure need met via private capital, not public debt
Investors & Financial Partners
  • 24.8% calculated project IRR before terminal value; 36.8% IRR including $480M moderate terminal value
  • $89.7M NPV @ 10% before terminal; $293.2M NPV @ 10% with terminal value
  • 4.2-year payback period
  • First-mover positioning in $23–41B+ UAM market
  • 5 diversified revenue streams reduce single-point risk
  • Multiple exit strategies: IPO, M&A, REIT, franchise
  • Government incentives: Historic Tax Credit, RAISE (formerly TIGER/BUILD), TEF
  • Scalable model replicable in 50+ U.S. metropolitan markets
Technology Partners
  • Real-world metropolitan-scale deployment platform
  • Reference customer status for global sales
  • Cross-platform data sharing and AI optimization
  • Joint IP development opportunities
  • Standards leadership — influence industry protocols
  • Innovation center anchor tenancy at preferred rates
  • Access to 8.5M DFW customer market from day one
  • Expansion pipeline: 50+ replication markets
Fort Worth Community
  • 40–60% commute time reduction on key corridors
  • Affordable alternatives: $15–25 AV trips, competitive air fares
  • Historic T&P Warehouse saved and activated for public use
  • 800+ permanent jobs, prioritized local hiring
  • Environmental improvements: electric fleet, less road congestion
  • Accessible transportation for seniors and those with disabilities
  • Community spaces, retail, dining within the hub
  • Downtown revitalization connecting to Texas A&M corridor
Section 04 · Implementation Pathway

Four Phases to Full Operations (2026–2030)

Phase 1 · 2026
Foundation · $20M
FAA eIPP enrollment, T&P lease execution, architectural design, regulatory permits, team building, technology partner MOUs (Joby, Archer, Waymo)
Phase 2 · 2027
Infrastructure · $50M
Historic building restoration, rooftop eVTOL facilities, AV terminals, charging infrastructure, computing systems, innovation center build-out
Phase 3 · 2028
Technology · $10M–$32M
Operator onboarding, certified eVTOL and qualified AV access agreements, charging and service infrastructure activation, AI traffic management, dispatch software, optional seed fleet participation, and Innovation Center opening
Phase 4 · 2029
Operations · $22M
Commercial launch, operator scale-up, route expansion, marketing, customer acquisition, and owned-vehicle participation only where route economics justify direct fleet exposure

Key Success Factors

  • Phase 1 funding secured ($20M) by Q4 2026
  • FAA eIPP enrollment and participation confirmed
  • T&P Warehouse lease or purchase agreement executed
  • Certified eVTOL operator access agreements or MOUs signed
  • Fort Worth City Council partnership resolution passed
  • Historic Tax Credit certification application filed
  • TxDOT integration agreement established
  • Level 4 AV operator access agreement or MOU executed
  • Innovation center anchor tenant LOI executed
  • Community engagement plan launched with public meetings
The Ask: We are seeking $20M in Phase 1 funding by Q4 2026 to complete regulatory approvals, execute the T&P Warehouse lease, finalize architectural design, assemble the leadership team, and sign operator and technology partner MOUs. This phase validates the opportunity before the $50M Phase 2 infrastructure commitment. The eIPP announcement makes 2026 the critical activation window.

Next Steps

Trinity Air Link Transportation System · Fort Worth, Texas
Investors: Request the detailed financial model, data room access, and management team meeting.
Government partners: Schedule a partnership discussion with the City of Fort Worth team.
Technology partners: Begin the technology assessment and integration planning process.
This document is intended for authorized recipients. All financial projections involve forward-looking statements subject to material risks and uncertainties.

CONFIDENTIAL — Trinity Air Link Transportation System · Business Case · March 2026Page 2 of 2