In a boost to the local economy of western North Carolina, Pratt & Whitney, a leading aerospace manufacturer, has announced plans to expand its facility in Asheville, as stated by Governor Josh Stein. This move, intended to enhance the company's turbine airfoil production, is poised to create an additional 325 jobs and involves a substantial investment of $285 million in the region. The expansion reflects the company's response to the burgeoning demand for its engines, which are utilized by a customer base spread across over 200 countries and territories.
Despite the setbacks triggered by Hurricane Helene, Asheville's resilient economy has attracted Pratt & Whitney's decision to grow their operations there. Governor Stein articulated in a statement obtained by his office's press release, "Western North Carolina's economy took it on the chin after Hurricane Helene, yet still it remains an incredible place to work and do business.” Asheville General Manager for Pratt & Whitney Dan Field emphasized the strategic nature of the investment for scaling up production to meet customer needs for products like the GTF for the A320 family and the F135 for the F-35 Lightning II.
As a part of the state's ongoing efforts to cement its status as a hub for the aviation industry, the expansion is expected to bolster the region's aerospace ecosystem. In acknowledging the significance of this development, Commerce Secretary Lee Lilley mentioned on the North Carolina Office of the Governor website, “The aviation industry is a key driver of North Carolina’s economic success and Pratt & Whitney’s decision strengthens our aerospace ecosystem substantially.” In anticipation for a more comprehensive support structure, investments will continue to flow into education systems which include community colleges and universities to assist employers like Pratt & Whitney.
The average wage for the new jobs is projected to outpace the current average in Buncombe County by over $7,000, as the company offers a mean annual salary of $62,413 for the latest positions. With an annual payroll impact exceeding $20 million to the local economy. The North Carolina Department of Commerce spearheaded the state's efforts to secure Pratt & Whitney's expansion during their site evaluation and decision-making process.
Facilitating the expansion is a Job Development Investment Grant (JDIG), approved by the state, capable of reimbursing up to $4,202,250 to Pratt & Whitney over 12 years, contingent upon the company fulfilling its job creation and investment targets. Representative Eric Ager, addressing the effort to bring economic development to Buncombe County, looked forward to Pratt & Whitney's continued success in the community, weathering storm recovery and economic ventures alike.
Partnering to make this project possible include entities such as the North Carolina General Assembly, various state departments, local colleges, and economic development coalitions.
