Honda Aircraft Company, LLC, the manufacturer of the renowned HondaJet light aircraft, will expand its Greensboro facilities to produce a longer-range version of the plane, creating 280 jobs Governor Roy Cooper announced on July 11. The company will invest $55.7 million in Guilford County for production of its new HondaJet 2600 model.
“HondaJet’s creation of nearly 300 good-paying jobs is yet another example of why CNBC named North Carolina as the number one state in the country to do business for the second year in a row,” said Governor Cooper. “This decision shows our state’s commitment to developing a skilled workforce, not only in the key industry of aerospace with a flagship brand like HondaJet, but in the entire advanced manufacturing arena.”
Honda Aircraft Company, a subsidiary of the American Honda Motor Company, is headquartered in Greensboro and produces the HondaJet, an innovative light jet aircraft. HondaJets feature a unique, over-the-wing-engine mount and the plane has been well received since its first flight in 2003.
Recently, the company has developed a concept for a longer-range model, the HondaJet 2600, designed to be the world’s first light jet capable of nonstop transcontinental flight across the United States, with a quiet and spacious cabin suited for long-range travel and the ability to accommodate up to 11 occupants. The aircraft is also designed for single-pilot operation.
The company’s project in Greensboro will establish production lines to manufacture the new HondaJet 2600, focusing initially on the critical design phase and production readiness of the plane, requiring significant R&D resources.
“Talent comes first when companies consider a business location,” said North Carolina Commerce Secretary Machelle Baker Sanders. “Locations that can offer a talented and well-trained workforce, tailored to the needs of a particular industry, succeed in today’s business environment. North Carolina’s First in Talent strategic plan helps our state deliver the world-class workforce that makes us the best place to do business in the world.”
Although wages will vary depending on the position, the average salary for the new positions will be $88,761. The current average wage in Guilford County is $57,190.
Honda Aircraft’s project includes a Job Development Investment Grant (JDIG), and over the course of the grant’s 12 years, the project is estimated to grow the state’s economy by $2.37 billion. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $3,434,400, spread over those 12 years.
Because Honda Aircraft chose a site in Guilford County, classified by the state’s economic tier system as Tier 2, the company’s JDIG agreement also calls for moving $381,600 into the state’s Industrial Development Fund – Utility Account.
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, the City of Greensboro, Guilford County, the Guilford County Economic Development Alliance, and the Greensboro Chamber of Commerce.
*Concept illustration of the HondaJet 2600.
