Economic Development Year in Review 2023

The new HondaJet 2600 will be built in Greensboro.

MAY 2023 Phase Change Solutions , a manufacturer of material used in products for temperature management, announced it will create 51 new jobs with an average annual wage of $79,118 in Greensboro. The company’s investment in the new US headquarters and manufacturing operation is expected to be more than $4.1 million. City Council authorized an economic development incentive of $1,000 per job for the project.

JUNE 2023

JULY 2023

Toyota announced that it will invest an additional $8 billion at the Toyota Battery Manufacturing North Carolina that will add approximately 3,000 jobs. OCTOBER 2023

ProKidney announced it will set up its first biomanufacturing facility in Greensboro. It plans to invest $458 million and create 330 jobs paying an average annual wage of $74,636. ProKidney is a late clinical-stage regenerative medicine company headquartered in Winston-Salem. The company is developing a treatment that uses a patient’s own cells to restore lost kidney function. This significant announcement further proves the greater Greensboro region is a burgeoning hub for life sciences. City Council authorized $13.2 million in incentives for the company.

Honda announced the expansion of its manufacturing operations at PTIA. The company plans to commercialize and produce the HondaJet 2600, the first light business jet capable of transcontinental flight. It will have a capacity of up to 11 people including one or two pilots, a larger size than its present craft that seats up to four passengers and a pilot. The company will invest $55.7 million and create 280 new full time positions paying an average wage of $88,761. City Council authorized an incentive package worth up to $1,500 for each of the 280 jobs the company expects to create.