2019 Comprehensive Annual Financial Report (CAFR)

The aviation industry is one of the critical business sectors of the Triad’s economic development strategy. With the ongoing collaboration of the public and private sector organizations and the educational community, the Triad is poised for strong future growth in aeronautics. Local aviation-related businesses draw heavily from the aviation workforce training program at Guilford Technical Community College (GTCC) whose program has grown steadily in recent years. In 2014, GTCC completed a $10 million facility on a 23-acre campus at PTIA called Aviation III, to house its aviation management and pilot programs as well as customized industry training. The addition of the new facility allows GTCC to expand training to approximately 900 students each semester. GTCC’s aviation program is one of the largest in North Carolina and serves as a model for other community colleges. The college recently added a fifth degree program to GTCC’s aviation training, aerostructures manufacturing and repair, that will prepare students for specialization in an industrial and advanced manufacturing setting. Honda Aircraft Company , a division of Honda Motor Company, has invested $155 million to establish its world headquarters at the 130-acre campus at PTIA in Greensboro and a total capital investment in its North Carolina operations of more than $245 million. With manufacturing, testing, training, maintenance and customer service facilities, the company currently employs 1,500 people at its PTIA campus. Following 12 years of design and testing, the HondaJet HA-420, a lightweight 7-passenger jet, received all required FAA certifications and sold its first HondaJet in 2015. Subsequently, HondaJet has received certifications world- wide and has established a dealer and sales network to provide service and support globally. In 2018, HondaJet unveiled and began delivery of their latest aircraft, the HondaJet Elite. The new aircraft provides improved flight range with an auxiliary fuel tank, increased payload, reduced vibration and cabin noise, enhanced avionics, and greater cabin space. With increasing demand for the HondaJet Elite, the company has recently begun construction of a new $15.5 million, 83,000 square-foot facility that will house the new wing-assembly process for the HondaJet Elite, said to be the fastest, farthest and highest-flying plane in its class. The new facility will provide capacity for more wings to be assembled concurrently and allow for additional storage of service parts for the growing fleet of HondaJets world-wide. The facility is expected to be completed in July 2020. For 2018, HondaJet was named the most-delivered jet in its category for the second consecutive year by the General Aviation Manufacturers Association, delivering 37 aircraft to its customers around the globe. During summer 2019, a Hawaiian air group, Wing Spirit, placed an order for 15 HondaJets, bringing the total number of manufactured aircraft, since it started production, to 130. HAECO Americas’ , formerly known as TIMCO Aviation Services, corporate headquarters is located at PTIA. HAECO provides aircraft maintenance, repair and overhaul services, and acquired TIMCO Aviation services for $388 million in 2014. The company has 2,200 employees at its five-hangar footprint at PTIA as well as additional employees at its interiors manufacturing facility in neighboring Davidson County. It services both wide-body and small body aircraft and is able to provide both high-end interiors for luxury airliners as well as more modest coach configurations. In addition to the four existing hangars in operation, HAECO completed a new $60 million, 250,000 square-foot hanger at PTIA in 2018. The City has offered an economic incentive grant of $400,000 to be paid out over five years if certain jobs are created. The new hanger could create up to 500 jobs when fully occupied. Federal Express began operating its Mid-Atlantic Hub, a major U.S. air hub and cargo handling facility, in 2009. The one million square-foot cargo handling facility is located at PTIA on an approximately 160 acre site that has been leased by the Authority to Federal Express for an initial term of 25 years. The cost of the $500 million cargo handling facility was funded by Federal Express, and the Authority constructed a new 9,000-foot public runway parallel to an existing runway, as well as related taxiway, airfield and road improvements. Beginning in fall 2019, the Federal Express Mid-Atlantic air hub, will nearly double existing operations, adding eight net new flights and up to 400 new jobs bringing total employment at the PTIA hub to more than 800 employees. This facility features the latest in automated handling technology. In nearby Kernersville, the $110 million, 415,000 square-foot FedEx Ground “super hub” sorting and distribution center opened in 2011 and has a workforce of 550 full and part-time employees and about 200 independent contractor opportunities. At full capacity, the ground hub is capable of sorting 45,000 packages per hour serving the Southeast Region. The extensive FedEx air and ground distribution centers in the Greensboro area are part of an ongoing nationwide VI