Boom Technologies Inc.’s announcement at Piedmont Triad International Airport (PTIA) on Wednesday, January 26 is another example of the tremendous success of regional cooperation in economic development.
Boom Day began with the Guilford County Board of Commissioners meeting at 8:30 a.m. to approve an economic development incentive of up to $12.1 million.
Then the Greensboro City Council followed with a three-minute meeting at 10 a.m., approving an economic incentive of up to $2.64 million for 1,761 new jobs.
Despite what many people think, PTIA is not in Greensboro and Greensboro will not receive tax revenue from the Boom Supersonic manufacturing plant. This is the second time in as many months that the Greensboro City Council has voted to grant economic incentives to a major manufacturing plant outside of city limits. The first, of course, was Toyota Battery Manufacturing North Carolina at the Greensboro-Randolph Megasite.
There is no doubt, however, that Greensboro will greatly benefit from these two major economic development projects and the votes to award the economic incentives were unanimous.
The big money for Boom came a little later from the state when the North Carolina Department of Commerce and Economic Investment Committee approved a $106.7 job development investment grant. million dollars for the project.
That money had been approved by the state legislature as a budget amendment in December under the code name “Project Thunderbird.” Shortly after this budget amendment was approved, the Raleigh News & Observer reported that the company involved in the Thunderbird project was Boom Supersonic. The Rhino Times was able to independently confirm that the company considering PTIA for a new facility was to manufacture supersonic aircraft, but not the name.
Finally, on Boom Wednesday, the official announcement that Boom Technologies planned to spend at least $500 million to build a new manufacturing facility for its supersonic passenger jets was made at 2 p.m. in a very busy parking lot. cold at PTIA.
Location is one of PTIA’s many selling characteristics and no amount of investment or preparation could change. Boom supersonic jets will have to be tested over the ocean because sonic booms are not allowed on land and as the people who live here are known to frequently say one of the great things about Greensboro is that it is close to the coast and close to the mountains. Of course, the coast is much closer if you’re flying in a supersonic jet.