Comprehensive Annual Financial Report FY 2016

Broadband Initiative . The regional partnership plans to take advantage of existing fiber optic cable infrastructure previously installed for Greensboro’s traffic-light system. The partnership hopes to work with Internet Service Providers to develop the next-generation of high-speed broadband infrastructure needed to meet the technological needs of current and future businesses, public institutions, educational institutions, and local residents at a substantial discount from current market prices. The Piedmont Triad Regional Council has issued a Request for Proposal (RFP) and is expected to complete the evaluation and selection process by year-end 2016. Located in the vicinity of Piedmont Triad International Airport are various major industrial and business parks , with fully developed infrastructure, covering about 700 acres and including more than 50 companies and approximately 4,000 employees. Existing office and industrial facilities located within 2½ miles of the

airport exit off Interstate Highway 40 include more than three million square feet of office, office/showroom, warehouse/distribution, light industrial and hotel space. The FedEx hub at the Piedmont Triad International Airport should generate more demand for office and other tenants associated with operations that need to be close to a logistics hub. Eight tracks of developable land, either with current or future runway access are being offered, with all utilities to the sites already installed.

In June 2012, PTIA developed plans for $350 million in projects including building a taxiway over a future interstate, buying more land, moving roads, relocating a radar tower and grading large tracts of land. The work will open approximately 900 acres for aviation-related development. The projects will be partially funded by the airport with existing revenues, but additional funding will be needed from federal, state and local assistance with participation from both the public and the private sector. The proposed $34 million taxiway will run approximately 3,000 feet and will feature a 214-foot wide bridge over future Interstate 73 (I- 73) with construction of the interstate moved up two years by the North Carolina Department of Transportation to 2014 with an anticipated substantial completion date during the summer of 2017 for both I- 73 and the taxiway bridge. This project will connect the airport to hundreds of acres within a mile of the runway and will help attract large aviation tenants. This developed area is anticipated to produce nearly 18,500 jobs, $3.2 billion in economic impact and more than $113 million annually in state and local tax revenue. As of calendar year-ended December 2015, approximately 50 scheduled daily departures at PTIA carried 842,190 enplaned passengers. 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. GTCC completed construction of 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 State Board of Community Colleges recently approved adding a fifth aviation degree to GTCC’s program, specializing in aerostructure manufacturing and repair technology.

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