Economic Development Year in Review 2021-22

OTHER PROJECT ANNOUNCEMENTS

FEBRUARY 2022 RPMWood Finishes Group selected Greensboro for a new center for research and development. RPM plans to create about 53 jobs paying an average annual wage of $75,047 and invest more than $19.5 million in a building formerly occupied by Qorvo. City Council authorized incentives of $160,729. RPM creates wood finishes and leather and vinyl touch up for furniture, cabinetry and decorative wood coatings. The company will collaborate with NC A&T State University to build research capabilities and offer internships.

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DECEMBER 2021 LT Apparel Group , a New York City based designer, manufacturer and marketer of children’s apparel, selected Greensboro for a new distribution center. The company plans to invest $57.3 million and create 116 new jobs at an average wage of $46,021. City Council approved $1.6 million in incentives.

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Procter & Gamble announced a $110 million expansion that will add 46 jobs and 86,288-square feet at its Swing Road plant. City Council authorized $1.8 million in incentives. Procter & Gamble is one of the world’s largest manufacturers of consumer brands. It employs 250 at its Swing Road facility (one of two in Greensboro), where Vicks, NyQuil, DayQuil, ZzQuil, Pepto Bismol and Align products are made.

Colorado-based Boom Supersonic plans to build a manufacturing facility at Piedmont Triad International Airport (PTI). City Council approved incentives of $1,500 per job. Boom expects to hire 1,761 at an average wage of $69,000 and invest $500 million by 2030. The company is developing a high-speed aircraft that will fly from New York to London in half the time of a traditional jet. Its PTI space will be a final assembly line test facility and customer delivery center. The remaining airport acreage is one of the few airport sites of its size in the country, making future expansion at PTI possible.

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