2024 Annual Comprehensive Report

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. The site has been conveyed to Toyota, and site grading and infrastructure improvements are underway. 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. Construction has begun for the 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. Plant production is expected to begin in 2025. 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 and VinFast, both 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. The CAM megasite is located within 25 miles of the City and consists of 1,800 acres. Golden Leaf, a nonprofit foundation, awarded $4 million for water and wastewater infrastructure at the CAM megasite. In September 2022, Wolfspeed, based in Durham, announced plans for a new semiconductor factory with 1,800 employees and a total $5 billion investment by the end of 2030 at the CAM megasite near Siler City. Wolfspeed would occupy 445 acres of the 1,802-acre CAM megasite, leaving space available for other major industrial projects. The project’s economic impact is expected to be $17.5 billion through 2045 and generate a net gain of $312 million in State revenue. The average annual salary is projected at $77,553, while Chatham County’s average annual wage is $41,638. The company’s silicon carbide materials plant is under construction and is expected to produce 10 times the amount currently manufactured at the company’s Durham facility that already produces the world’s largest volume of silicon carbide. 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, HAECO Americas, Cessna, North State Aviation, B/E Aerospace, Honda Aero, 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, and Allegiant. For the calendar year 2023, PTIA boarded 881,316 passengers,

compared to 788,318 boarded passengers in 2022. Passenger and cargo traffic for the seven months ended July 31, 2024 were up 14% and down 31%, respectively, compared to the same period last year, reflecting growing recovery from the coronavirus pandemic for 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. The GTCC Aviation III facility is located on a 23-acre campus at PTIA and includes aviation management and pilot programs as well as customized industry training. GTCC’s aviation program is one of the largest in North Carolina and serves as a model for other community colleges. The college

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