2021 Annual Comprehensive Financial Report

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, aero structures 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 133-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 is headquartered at its PTIA campus. Following 12 years of

design and testing, the HondaJet HA-420, a lightweight seven passenger jet, received all required FAA certifications and sold its first HondaJet in 2015. Subsequently, HondaJet has received certifications worldwide 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. In September 2020, the company completed construction of a $24.3 million, 83,000 square-foot new Wing Production and Service Parts Facility at PTIA where it has approximately 1,000 employees. The facility houses the new wing-assembly process for the HondaJet Elite, said to be the fastest, farthest and highest-flying plane in its class. The facility also provides capacity for more wings to be assembled concurrently, additional storage and distribution of service parts, a paint booth and office space. In 2019, the company embarked on diversification of uses for the HondaJet Elite with the inclusion of medevac configurations in air ambulances. For 2020, HondaJet was named the most-delivered jet in its category for the fourth consecutive year by the General Aviation Manufacturers Association, delivering 31 aircraft to customers around the globe, bringing the total number of manufactured aircraft to over 170 since it started production. In 2018, two former Honda Aircraft executives created Jet It , a Greensboro-based business providing fractional ownership of HondaJets to clients. Jet It has grown its workforce from an initial three to 73 employees and is beginning the second phase of its business model, JetClub, operating in Europe and the Far East. Within the first 18 months, Jet It acquired and put into service six HondaJet Elite aircrafts. Its fleet has grown to 12 HondaJets. In 2021, Jet It became a launch customer of Denver, Colorado-based Bye Aerospace to operate the first fleet of electric aircraft in North America. Jet It signed a purchase agreement for four eFlyer 800, a seven- passenger, all-electric twin prop aircraft, and four eFlyer four-seat aircraft. By 2025, the company plans to have electric-powered planes in the sky. Key factors of Jet It’s business are private air travel, fractional ownership of an aircraft and increased health security of private terminals, aircrafts and reduced number of passengers. HondaJets are assembled at Honda Aircraft’s headquarters and manufacturing facility at PTI airport. Jet It ranks among Honda Aircraft’s largest purchasers of HondaJet Elite aircrafts. 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 over 2,000 employees at its five-hangar footprint at PTIA as well

VII