It appears another major economic development project is in the works for Guilford County.
A technical correction to the budget appropriations bill passed by the legislature on Monday, Nov. 29 includes a Job Development Investment Grant (JDIG) of $106.7 million dollars for a project at Piedmont Triad International Airport (PTIA).
According to the bill, the JDIG investment is for a “high-yield project for an airplane manufacturer in Guilford County and for which the average annual wage is at least sixty-thousand dollars ($60,000).”
The bill specifies that $15 million will be awarded to PTIA for site work needed for the project and $35 million to the North Carolina Department of Transportation for roadwork improvements. The bill states that if all the funding is not needed for one of those items the funds can be transferred to the other for the project.
There is also an authorization for $56.7 million for PTIA to construct one or more new hangars at the airport for the airplane manufacturing project.
There is, as usual, no indication of what airplane manufacturer the state is trying to attract to PTIA with the $106.7 million appropriation.
To qualify for that level of appropriation from the state, a company would have to create at least 1,750 new jobs and invest at least $500 million in capital improvements.
The corporate headquarters of Honda Jet as well as some production facilities are currently housed at PTIA.
This comes on the heels of a $320 million grant from the state for the Greensboro-Randolph Megasite, which was included in the state budget. On Monday, Dec. 6, the Randolph County Board of Commissioners is holding a public hearing on economic development grants for the unspecified project at the Greensboro-Randolph Megasite as well as transferring the ownership of 626 acres to “the Company” that would be investing at least $1 billion at the megasite and employing at least 1,750 people.