ASHEVILLE, N.C. — Pratt & Whitney, a division of Raytheon Technologies Corp., will invest $650 million for its new turbine airfoil production facility in Asheville. East Hartford, Conn.-based Pratt & Whitney designs, manufactures and services aircraft and helicopter engines, as well as auxiliary power units for the aerospace industry. The new facility will span 1 million square feet and is expected to house 800 employees by 2027. According to North Carolina Gov. Roy Cooper, the annual salary at the facility can reach $68,000 per year. The current average salary in Buncombe County is $43,134 per year.
North Carolina is the second fastest growing aerospace hub in the United States, according to the Economic Development Partnership o North Carolina. Companies that operate in the Tar Heel State include GE Aviation, Lockheed Martin, Honeywell and Spirit AeroSystems.
The North Carolina Economic Investment Committee approved a job development investment grant (JDIG) for the project. Under the JDIG, the state could reimburse Pratt & Whitney up to $15.5 million over the next 12 years. Additionally, under the JDIG, the firm will transfer $5.2 million into the state’s Industrial Development Fund — Utility Account for use by rural communities elsewhere in the state.
A timeline for construction starting was not disclosed.