PTIA Receives $ 106 Million From State For Aircraft Manufacturing Project
It appears that another major economic development project is underway for Guilford County.
A technical correction to the budget appropriations bill passed by the legislature on Monday, November 29, includes a $ 106.7 million employment development investment grant (JDIG) for a project at Piedmont International Airport Triad (PTIA).
According to the bill, JDIG’s investment is for a “high-yield project for an aircraft manufacturer in Guilford County and for which the average annual salary is at least sixty thousand dollars ($ 60,000). “.
The bill specifies that $ 15 million will be allocated to the PTIA for site work required for the project and $ 35 million to the North Carolina Department of Transportation for road improvements. The bill states that if all funding is not required for one of these items, the funds can be transferred to the other for the project.
There is also an authorization of $ 56.7 million for PTIA to build one or more new hangars at the airport for the aircraft manufacturing project.
There is, as usual, no indication of the aircraft maker the state is trying to lure into PTIA with the $ 106.7 million credit.
To benefit from this level of state ownership, a business would need to create at least 1,750 new jobs and invest at least $ 500 million in capital improvements.
Honda Jet’s head office as well as some production facilities are currently housed at PTIA.
This follows a $ 320 million state grant for the Greensboro-Randolph megasite, which was included in the state budget. On Monday, December 6, the Randolph County Council of Commissioners holds a public hearing on economic development grants for the unspecified project on the Greensboro-Randolph megasite as well as the transfer of the 626-acre property to “the company Which would invest at least $ 1 billion on the megasite and employ at least 1,750 people.