2022 Annual Comprehensive Financial Report

locations, rebuilt overhead roadway at the departure level of the passenger terminal and an upgraded parking payment system. In addition, work continues on the new control tower, scheduled for completion by the end of 2022. PTIA ranked as one of USA Today’s Top 10 Small Airports in the U.S. for both 2020 and 2021. The ranking compares U.S. airports that serve fewer than 10 million passengers annually while excelling in commercial flights, easy access and valuable services. 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, 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, providing 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. In 2021, for the fifth straight year, HondaJet was named the most-delivered aircraft in its class by the General Aviation Manufacturers Associations. The company delivered its 200 th HondaJet in December 2021. Additionally in 2021, the HondaJet Elite S was awarded the “Top Flight Award” as best new business jet by Aviation International News. In 2018, two former Honda Aircraft executives created Jet It , a Greensboro-based business providing fractional ownership of HondaJets to clients. Within the first 18 months, Jet It acquired and put into service six HondaJet Elite aircrafts. 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. In fall 2022, Jet It announced

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