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Saturday, June 15, 2024

Honda Aircraft to add 280 jobs in Greensboro

Honda Aircraft, which makes the HondaJet light aircraft, will add 280 jobs at its Greensboro facilities, the governor’s office announced Tuesday.

The company will invest $55.7 million for production of its new HondaJet 2600 model, bringing its total investment in the state to more than $335 million.

HondaJet features a unique, over-the-wing-engine mount. 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.

The jet has the ability to accommodate up to 11 occupants and is also designed for single-pilot operation. The company announced last month that it wanted the jet to be available by 2028.

“We are thrilled that North Carolina will be home to the new Honda light jet that represents the next chapter of our skyward mobility,” says Honda Aircraft CEO Hideto Yamasaki in a statement. “The state of North Carolina provides a rich talent pool and tremendous support from our local community and having our facilities located right next to the Piedmont Triad International Airport is an ideal location to develop and produce our new light jet.”

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 will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier Tuesday, and is contingent upon local participation from the city of Greensboro and Guilford County.

Over the course of the 12-year term of this grant, 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 $3.4 million spread over 12 years.

Because Honda Aircraft is 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.

The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business.

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