In a move that state and local officials are hailing as a much-needed boost to Western North Carolina鈥檚 economy after Hurricane Helene, aerospace manufacturer Pratt & Whitney is expanding its operations in Buncombe County.
The expansion is expected to create 325 jobs over the next five years. The newly created jobs will pay an average salary of $62,413, which is higher than the county鈥檚 average wage of $55,416, according to Gov. Josh Stein鈥檚 (D) office. The company, which opened its local manufacturing facility in 2022, is expected to invest an additional $285 million in Asheville alongside the expansion.
鈥淲estern North Carolina鈥檚 economy took it on the chin after Hurricane Helene, yet still it remains an incredible place to work and do business,鈥� Stein said in a statement Tuesday. 鈥淧ratt & Whitney clearly sees the opportunities in North Carolina and the strength of our highly skilled workforce. We look forward to welcoming them here.鈥�
Dan Field, the company鈥檚 Asheville general manager, said the expansion 鈥渁llows us to add critical process elements for the manufacture of turbine airfoils and increase the overall delivery output of this facility, enabling us to deliver on our customer commitments while creating hundreds of new jobs in the Asheville community."
The company鈥檚 presence in Asheville has sparked criticism from some local residents who oppose its development of parts used in military aircraft. A little over a year ago, more than 30 protesters at a Buncombe County Commission meeting, arguing that the county should not offer economic incentives to the defense industry.
Some of the protesters also objected to Pratt & Whitney鈥檚 role in manufacturing components used in Israeli aircraft during the war in Gaza.
Clark Duncan, executive director of the Economic Development Coalition for Asheville-Buncombe County, said he has 鈥渢remendous respect鈥� for different viewpoints but that the expected job growth is something worth celebrating.
鈥淓conomic development ultimately is focused on raising standards of living and raising wages and encouraging economic mobility for the residents of our region that continue to lag our state and lag our nation in measures of prosperity,鈥� Duncan said. 鈥淔or me, that鈥檚 the real focus.鈥�
Hurricane Helene dealt a severe blow to Western North Carolina鈥檚 economy late last year, and experts say . Even before Helene, the region鈥檚 manufacturing industry took a hit in May 2023 when Pactiv Evergreen , eliminating more than 1,200 jobs. The former mill site was recently by a St. Louis-based company, Spirtas Worldwide.
Duncan said the timing of the expansion underscores that it is 鈥渁 vote of confidence in the economic recovery of Western North Carolina.鈥�
鈥淚 think it鈥檚 a bit of momentum and optimism that we all need, whether we鈥檙e running small businesses or multinational corporations like Pratt, it鈥檚 a great reminder that our better days are ahead of us,鈥� he said.
Stein鈥檚 office said Tuesday that the Pratt & Whitney expansion is being made possible in part by a state Job Development Investment Grant, or . The program authorizes the state to reimburse Pratt & Whitney up to $4.2 million over the course of 12 years, provided the company meets certain job creation and investment targets.
鈥淭he project's projected return on investment of public dollars is 317 percent, meaning for every dollar of potential cost, the state receives $4.17 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant鈥檚 reimbursement payments to a given company,鈥� state leaders said in Tuesday鈥檚 announcement.
Laura Hackett contributed to this report.
