2025 Annual Comprehensive Report

The PTI Aerospace megasite , just 10 miles west of downtown Greensboro and connected to PTIA, 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. The company plans to invest $500 million in the project and have the Overture aircraft ready to begin service in 2029. In June 2024, Boom completed construction of its 180,000 square foot main assembly facility, valued at $60 million, and plans to start building the first full-scale version of its Overture jetliner in 2026. Boom plans to employ approximately 1,750 workers at an average annual salary above $60,000 in the project by 2030 and 2,400 employees by 2032. Boom continues to make progress on its goals in FY 2025. With an additional 1,000 acres available at the megasite and nearly 200 aerospace companies nearby, this area can accommodate continued growth. The Greensboro-Randolph megasite is approximately 1,800 acres and is located 20 miles southeast of the City’s downtown. In December 2021, Toyota Battery Manufacturing, Inc. (“Toyota”) announced that it would develop a battery manufacturing facility at the Greensboro-Randolph megasite. Proceeds of the City’s Combined Enterprise System Revenue Refunding Bonds, Series 2024 and the City’s 2024 Combined Enterprise System Revenue Bond Anticipation Notes, were used to provide water and sewer infrastructure to the Greensboro-Randolph megasite. Facilities include two hybrid electric vehicle (HEV) battery productions buildings to support four HEV lines and one battery electric vehicle (BEV) production building to support two BEV lines. Approximately 2,000 employees have been hired and production of batteries has begun. The three building manufacturing campus covers 1,000 acres of the 1,800-acre property. The total planned investment is expected to be approximately $13.9 billion, with the creation of over 5,000 new jobs. Toyota’s new battery manufacturing facility adds to the growing synergy of regional entities involved with electric vehicles and power production, including Thomas Built Buses in High Point, Volvo Trucks North America’s headquarters in Guilford County, and Wolfspeed in Chatham County. Toyota’s facility is expected to significantly contribute to the growth of electric vehicle manufacturing and development and have substantial impact on overall economic growth for builders, suppliers, service providers, workers and governments in the Triad region and across the state.

Piedmont Triad International Airport (PTIA) , located just eight miles from the City’s downtown area, is a major commercial and private aviation center that is owned and operated by the Piedmont Triad Airport Authority (the “Authority”). Situated along an aerospace-heavy corridor of Interstate 40, PTIA is at the center of a job-rich region for aircraft, manufacturing, aircraft parts supply and aviation repair and maintenance. The Piedmont Triad is home to nearly 200 aerospace-related companies including;

Honda Aircraft Company, HAECO Americas, Cessna, North State Aviation, B/E Aerospace, Honda Aero, Boom Supersonic, and FedEx. The Authority provides a complete line of aviation services, including air taxi service, aviation training, and aircraft sales. Major passenger carriers include Delta, United, American, Allegiant, and Breeze Airways. For the calendar year 2024, PTIA boarded 984,779 passengers, compared to 881,316 boarded passengers in 2023. Passenger and cargo traffic for the seven months ended July 31, 2025 were up 7% and down 9%, respectively, compared to the same period last year, reflecting growing recovery from the coronavirus pandemic for passengers.

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