2022 Annual Comprehensive Financial Report

The NC Carolina Core, a 120-mile corridor that stretches along U.S. Highway 421 from Winston-Salem, through Greensboro and then southeast to Fayetteville, is home to four megasites totaling 7,200 acres of certified land. Megasites approximately 1,000 acres or more, are properties that can house a large manufacturing facility. Three of the four megasites along the Carolina are within 35 miles of downtown Greensboro, the Piedmont Triad International (PTI) Aerospace megasite, the Greensboro-Randolph megasite and the Chatham Advanced Manufacturing megasite (CAM). A fourth megasite, Triangle Innovation Point, is located approximately 30 miles southeast of the CAM megasite. During 2022, significant advanced manufacturing projects were announced at each of the four megasite locations. The Carolina Core provides growing economic synergy among aerospace, vehicle electrification, renewable energy and semiconductor manufacturing industries. With these projects comes extensive economic growth for builders, suppliers, service providers, workers and government entities. The Carolina Core, rich in strong infrastructure, skilled workforce, educated talent, economic incentives, affordability, entertainment and outdoor opportunities, is positioned for high-impact growth.

The PTI Aerospace megasite, just 10 miles west of downtown Greensboro, has significant opportunity for commercial and industrial development. In January 2022, Boom Technology, Inc. doing business as Boom Supersonic, announced plans to locate its first manufacturing plant at the PTI Aerospace megasite. Boom Supersonic is developing a sustainable, supersonic aircraft capable of speeds twice as fast as today’s commercial airliners. Designed for net-zero carbon flight, Overture will be 205 feet long, carry 65 to 88 passengers, cruise at an altitude of 60,000 feet and have a range of 4,888 miles. The company plans to have Overture ready to begin service in 2029. The initial phase of the project at PTIA will involve the development of a production hangar fronting the south side of Interstate Highway 73 which will serve as Boom’s manufacturing facility. The company plans to employ approximately 1,750 workers at an average annual salary above $60,000 and invest $500 million in the project by 2030. Orders for the new jets have already been received by the company

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