JetZero is making a significant investment in North Carolina as the company plans to construct a factory in Greensboro to produce its blended-wing-body jets there in the future.
JetZero’s investment in Greensboro to build the airplane factory will amount to more than $4.7 billion and bring over 14,500 jobs to the area over time, Gov. Josh Stein’s office said.
The company announced Thursday it had chosen Greensboro, a city in Central North Carolina, as the place where it will build its first “state-of-the-art” manufacturing and final assembly facility for the Z4 plane it is developing.
Stein’s office described the project as the “largest economic development project in North Carolina history based on job commitment.”
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JetZero’s planned factory will be situated on the property of Piedmont Triad International Airport, according to the aircraft company.
The deal includes more than $1.1 billion in state performance incentives that would be paid over nearly 40 years and are contingent on JetZero creating over 14,000 jobs between 2027 and 2036, a state representative said.
JetZero would also benefit from an additional $450 million in infrastructure improvements to the airport facilities, along with city and county incentives, the representative said.
The aircraft company aims to start building the factory for its blended-wing-body jet sometime during the first six months of next year, according to JetZero.
“This facility is a critical milestone in bringing our all-wing Z4 to market,” JetZero CEO Tom O’Leary said in a statement. “I applaud the leadership of Governor Josh Stein and his team as well as the leadership of the North Carolina General Assembly, and whole host of local leaders and organizations for working with us to bring JetZero to North Carolina, the birthplace of aviation.”
The “all-wing” design of the planned Z4 passenger plane is supposed to bring “up to 50% better fuel efficiency” compared to traditionally-shaped commercial planes, the company said.
It is expected to have the capacity to accommodate roughly 250 passengers. The company has said it will have a “unique interior space” with six passenger bays and a “central galley,” among other things. Airlines will be able to get “no-middle-seat” and “family seating” if they want.
JetZero wants to bring the Z4 plane into service in the “early 2030s.” It has said it aims to fly its demonstrator for the first time in 2027.
The company’s factory at the Piedmont Triad International Airport will be able to manufacture up to 20 of the planes each month at its “full run rate” by the late 2030s, JetZero projected.
JetZero marks the latest startup to reach a deal for a factory at Piedmont Triad International Airport, with supersonic jet maker Boom recently opening a facility at the site.
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Well-known carriers Alaska Airlines and United Airlines have invested in JetZero over the past year.
Alaska Airlines invested in the company in August of last year, with options for future aircraft orders. United’s investment, meanwhile, came in April and “includes a path to order up to 100 airplanes and an option for an additional 100,” JetZero said at the time.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ALK | ALASKA AIR GROUP INC. | 47.47 | -2.17 | -4.37% |
| UAL | UNITED AIRLINES HOLDINGS INC. | 74.00 | -3.43 | -4.43% |
| DAL | DELTA AIR LINES INC. | 47.04 | -1.83 | -3.74% |
JetZero also unveiled a partnership with Delta Air Lines in March, under which the carrier is “providing the operational expertise to help make this technology viable” and helping design the “interior experience,” according to a press release.
O’Leary and co-founder Mark Page created JetZero in 2021.
Reuters contributed to this report.
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