Honda Aircraft Company’s expansion in Greensboro’s aviation industry is set to bring 280 new jobs to the city over the next five years, supported by a $3.43 million job development investment grant from the state. As the company’s headquarters are already based in Greensboro, the future facility will be utilized for the development and production of the HondaJet 2600 model, an extended-range version of the HondaJet aircraft.
Currently, Honda Aircraft employs 723 full-time and 93 contract employees in Guilford County, while its parent company, American Honda Motor Company, has an additional 562 jobs in Alamance County’s Town of Swepsonville. The North Carolina Economic Investment Committee, which approved the grant, states that the new employees at Honda Aircraft can expect an average wage of $88,761, surpassing the average salary in Guilford County, which stands at $57,190 as of 2023.
Governor Roy Cooper commended HondaJet’s contribution to job creation, highlighting North Carolina’s recognition as the number one state for business for two consecutive years. The governor emphasized the state’s commitment to nurturing a skilled workforce, not only within the aerospace industry, represented by HondaJet, but also in advanced manufacturing as a whole.
Honda Aircraft’s selection of Greensboro as the site for its new facility was preferred over Alberta, Alabama, as indicated in its application. The company intends to invest $55.7 million by December 31, 2027, bringing its total investment in the state to over $335 million.
The job development investment grant also includes the allocation of $381,600 into the state’s Industrial Development Fund Utility Account, designed to assist rural areas in financing infrastructure updates with the aim of attracting future businesses.
Impact & Future Developments in Greensboro’s Aviation Sector
In 2007, Honda Aircraft received a job development investment grant from the state for the establishment of its headquarters at the Piedmont Triad International Airport in Greensboro. According to state records, North Carolina has provided the company with $6.68 million, resulting in the creation of 321 jobs and the retention of 616 jobs.
According to the Walden model utilized by the state to evaluate major economic projects, the new manufacturing site in Greensboro has the potential to boost North Carolina’s economy by $2.37 billion over the 12-year term of the grant.
Furthermore, earlier this year, Boom Supersonic initiated construction on its 62-acre Piedmont Triad International campus, which will house the manufacturing facility for its future commercial supersonic jet. Officials project that construction will be completed by mid-2024, further contributing to the growth and development within Greensboro’s aviation sector.
Greensboro’s aviation industry is experiencing promising growth with Honda Aircraft’s expansion, bringing 280 jobs and driving economic advancement. The construction of Boom Supersonic manufacturing facility further enhances the sector’s development. Honda Aircraft’s choice to establish the new facility in Greensboro showcases the city’s appeal and supportive business environment. With these initiatives, Greensboro solidifies its position as a hub for aviation innovation.
The anticipated economic impact and job creation demonstrate the city’s potential and attract major players in the industry. The future looks bright for Greensboro’s aviation sector, fostering ongoing growth and prosperity.