CAFR 2017

manufacturing facility in Wallburg, 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 at PTIA, HAECO is constructing a new $60 million, 250,000 square-foot hanger construction project at PTIA that would create up to 500 jobs, with the City offering an economic incentive grant of $400,000 to be paid out over five years if certain jobs are created. Pending approvals of FAA permits and other State agencies, the hangar is expected to be completed by January, 2018. Honda Aircraft Company, a division of Honda Motor Company, has invested $140 million to establish its world headquarters at the 130-acre campus at PTIA in Greensboro. With manufacturing, testing, training, maintenance and customer service facilities, the company currently employs 1,700 people in the area. Following 12 years of design and testing, the HondaJet HA-420, a lightweight 7-passenger passenger jet, received all required FAA certifications to produce, flight test, and issue airworthiness certificates for customers. In June, 2017, HondaJet also received Canadian type certification, authorizing the company to deliver jets to Canadian customers. This follows prior certification for delivery to Europe and Mexico. The Company also announced that it will begin sales of HondaJet in Southeast Asia by partnering with Thai Aerospace Services to provide sales, service and

support across the region. HondaJet was named the most- delivered jet in its category for the first half of 2017 by the General Aviation Manufacturers Association, delivering 24 aircraft to customers in the U.S., Canada, Mexico, and Europe. The company expects HondaJet to be a formidable player in the light business jet market, with annual production expected to reach 80 units per year by mid-2019. Greensboro’s City Council had previously approved an economic incentive grant in the amount of $523,750 ($1,250 per new job) for Honda Aircraft Company. The grant was provided for the purpose of real property improvements, new equipment and creating jobs .

Federal Express began operating a major aircraft hub and cargo handling facility at PTIA in 2009. The cargo handling facility is located 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. The expansive FedEx Ground distribution center is part of an ongoing nationwide network expansion and transit time acceleration plan to boost daily package volume capacity and further enhance the speed and service capabilities of its network. The 415,000 square foot hub has a workforce of 550 full and part-time employees and about 200 independent contractor opportunities. This facility features the latest in automated handling technology and can process 24,000 packages per hour. With projected future expansion, the hub could eventually process 45,000 packages per hour serving the Southeast Region. To further augment this growing logistics network, United Parcel Service (UPS) Ground has a more than 280,000 square foot small package operations hub capable of sorting more than 59,000 packages per hour. UPS Freight has a facility which moves approximately 1 million pounds of freight daily. Together with its High Point operations, UPS employs over 2,000 people in the area (Greensboro Economic Development Alliance). In the City’s downtown area, a Business Improvement District (BID) was established in FY 2005 with an additional separate tax rate assessed for properties within the district boundaries. Currently the tax is $.08 per $100 valuation, down from $.09 at inception of the district rate. The BID generated close to $743,000 in the fiscal year ended June 30, 2017 from property taxes, to be used for downtown improvement projects. A variety of activities have been completed, including new housing developments, business location loans, business facade improvements, landscaping and public safety programs. In FY 2013, City Council adopted aspects of a “Good Repair” Ordinance to further enhance the attractiveness of downtown sites.

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