Latest news with #JetZero
Yahoo
3 days ago
- Business
- Yahoo
Startup JetZero to build $4.7B factory in North Carolina
This story was originally published on Manufacturing Dive. To receive daily news and insights, subscribe to our free daily Manufacturing Dive newsletter. Aerospace startup JetZero unveiled plans on Thursday to build its first manufacturing and assembly facility in Greensboro, North Carolina as it looks to break into commercial aerospace production. The $4.7 billion plant is expected to create 14,500 jobs, the largest job announcement in state history, according to the Economic Development Partnership of North Carolina. JetZero aims to begin construction next year, and eventually produce 20 planes per month when at full capacity by late next decade. The startup plans to deliver its first commercial aircraft by the early 2030s. Founded in 2021, JetZero has garnered attention across the airline industry for its promise to build 'middle market,' more fuel efficient aircraft. JetZero is aiming to take on the market by offering a wider design that tackles what the startup says are some of the key pain points with current aircraft. Its signature Z4 plane will feature a wider boarding door and more passenger sections that prioritize personal space and individual overhead bins, according to a release. The startup also claims its planes will feature 50% better fuel efficiency as a result of its all-wing design. Each plane will seat 250 passengers and be able to fly routes up to 5,000 nautical miles. Both Alaska Airlines and United Airlines have invested in the company, as well as signed conditional purchase agreements. JetZero is partnering with Siemens to integrate digitial and industrial artificial intelligence tools across the new factory. The two companies will also work together to build JetZero's prototype, set to take flight in 2027. The startup also plans to work with the state's community college system to create a talent pipeline for the thousands of jobs it promises to spur. "We've already discussed the company's unique workforce needs and outlined a detailed customized training plan which will be developed through our NCEdge program," John Loyack, vice president of economic development for the North Carolina Community College System, said in a statement. "In a joint effort with Guilford Technical Community College and other colleges in the region, we're excited to move forward into implementing a customized program.' The project will be aided by a sizable state grant that spans the next 37 years. JetZero, which is calculated to grow the economy by $259.4 billion over that time, could then receive more than $1 billion in state incentives, according to the North Carolina Department of Commerce. The Southeast is becoming a growing hub for aerospace manufacturing. Boeing, which has produced its Dreamliner planes in South Carolina since 2007, is in the midst of a $1 billion expansion to the campus as it looks to ramp production of the planes. Boeing supplier Williams International is expanding further south in Florida, where it's building a $1 billion gas-powered turbine engine manufacturing site. Finally, fellow startup Archer Aviation began production at its Georgia factory in January. The air taxi manufacturer hopes to produce 650 electric takeoff and landing aircraft a year by 2030. Recommended Reading Williams International to build $1B aviation engine plant in Florida Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
5 days ago
- Business
- Miami Herald
HBCU at the Epicenter of $4.7 Billion Aerospace Investment
Greensboro, N.C. – JetZero has announced a $4.7 billion investment to build a next-generation aviation production facility at Piedmont Triad International Airport (PTI) in Greensboro, North Carolina. The move will create more than 14,500 new jobs, making it the largest job announcement in the state's history. At the center of this groundbreaking development is North Carolina A&T, the nation's largest HBCU. JetZero's facility will produce the Z4, a revolutionary commercial aircraft with an all-wing design. The plane seats 250 passengers and offers up to 50% improved fuel efficiency compared to current models. The factory will be powered by artificial intelligence and digital systems to improve speed, lower costs, and ensure high-quality production. The company's headquarters will move from Long Beach, California, to Greensboro once the site is operational. Groundbreaking is expected in the first half of 2026. JetZero plans to deliver its first commercial aircraft by the early 2030s. But it's not just about building airplanes. This investment will reshape education, innovation, and workforce development, starting with North Carolina A&T. N.C. A&T plays a vital role in this project. The university is the top producer of African American engineering graduates in the country. The Department of Mechanical Engineering even offers an aerospace option for undergraduates. This makes it a perfect partner in developing a skilled talent pipeline for JetZero. Chancellor James R. Martin II emphasized the university's impact: This fall, N.C. A&T will also launch the state's first Bachelor of Science in Artificial Intelligence. The degree includes two tracks: Advanced AI Systems, offered by the College of Engineering, and Applied AI, offered through the College of Science and Technology. JetZero will partner with local institutions, such as Guilford Technical Community College, and others in the region to create customized training programs. These efforts aim to prepare workers quickly and effectively for roles at the new facility. Jobs at the plant are expected to pay an average salary of over $89,000 per year. That's a major boost for the local economy-and a powerful incentive for students, especially those coming from HBCUs and community colleges. John Loyack, vice president of economic development for the North Carolina Community College System, said: The state offers a potent mix of talent, business incentives, and infrastructure. With a labor force of 5.5 million, over 49,000 engineers, and more than 30,000 STEM degrees awarded each year, North Carolina has the workforce JetZero needs. The state also has the lowest corporate tax rate in the country at just 2.25%, with a cost of living below the national average. Add in renewable energy leadership and bipartisan support for sustainability, and it's clear why JetZero made the move. N.C. A&T's involvement shows how HBCUs are driving the future of innovation. The university has already helped attract global brands, including Boom Supersonic, Honda, Toyota, Corning, and Merck, to North Carolina. Governor Josh Stein summed it up best: The JetZero project proves that HBCUs are not only educating the next generation-they're shaping the industries of tomorrow, with N.C. A&T at the epicenter of this aerospace boom, the future looks bright for students, researchers, and the state as a whole. The post HBCU at the Epicenter of $4.7 Billion Aerospace Investment appeared first on HBCU Gameday. Copyright HBCU Gameday 2012-2025
CTV News
13-06-2025
- Business
- CTV News
JetZero plans to build US$4.7B plant in North Carolina, aims to create 14,500 jobs
JetZero CEO and co-founder Tom O'Leary speaks during a ceremony on Thursday, June 12, 2025, announcing that the company will build its manufacturing facility for its future Z4 passenger jet at Piedmont Triad International Airport in Greensboro, N.C. (Walt Unks/The Winston-Salem Journal via AP) GREENSBORO, N.C. — JetZero Inc. announced plans Thursday to build its first manufacturing plant for a next-generation passenger jet in central North Carolina, a project that if successful would create more than 14,500 jobs there in a decade. The California-based startup intends to build the factory at Greensboro's airport, investing $4.7 billion. The planned hirings from 2027 through 2036 would be the largest job commitment in North Carolina history, according to Gov. Josh Stein. The company previously identified Greensboro as one of three finalists for the factory to build its fixed-wing — also known as all-wing or blended-wing — Z4 aircraft, which JetZero says will be up to 50 per cent more fuel-efficient than traditional tube-and-wing airliners. JetZero has said it's already raised about $300 million toward investment in the Z4 project, including a U.S. Air Force grant to build and fly a demonstrator model by 2027. United Airlines and Alaska Airlines also are project investors and have made conditional purchase agreements for their fleets, the company said. JetZero aims for the planes to go into service in the early 2030s, with a goal of completing 20 airplanes per month at full production. Stein, on hand with JetZero executives and other officials for the formal announcement at Piedmont Triad International Airport in Greensboro, cited North Carolina's robust aerospace industry and the first manned powered flights at Kitty Hawk by the Wright brothers in 1903. 'North Carolina is the perfect location,' Stein said. 'North Carolina was first in flight. We are also the future of flight.' The jobs would pay minimum average salaries of more than $89,000, according to the state Department of Commerce, which provided details of the project discussed earlier Thursday by a state committee that awards economic incentives. State and local monetary and training incentives for JetZero and the project described at the committee meeting could exceed $2.35 billion by the 2060s if investment and job-creation thresholds and other requirements are met. A portion of state incentives awarded by the committee — more than $1 billion over 37 years — is based on a percentage of income taxes withheld from plant workers' paychecks. The incentives also include up to $785 million from Guilford County and Greensboro and up to $450 million from the General Assembly in part to help with infrastructure, officials said. The project includes a research facility for composite structures. A commerce department official said that JetZero, headquartered in Long Beach, California, looked for over a year for a plant location, examining 25 sites in 17 states. JetZero, currently with just 225 workers, enters a jet purchasing market dominated by industry behemoths U.S.-based Boeing and European Airbus. 'We have already shown strong commercial interest and momentum to meet the real airline demand for this aircraft,' CEO Tom O'Leary said. 'So this is more than just a factory. It's a launchpad for a new chapter of American aerospace.' While a variant of the Z4 would have tanker and transport uses in the military, JetZero has said that it would focus first on building a commercial jetliner with about 250 seats and a range of 5,000 nautical miles. The five-year-old company says the plane's shape will reduce drag and the mounting of engines on the top and back of the plane will make it much quieter than traditional airliners. The Z4 would run on conventional jet fuel but could be converted to hydrogen fuel, according to JetZero. JetZero says Z4 travelers will board through larger doors and into shorter but wider cabins, and aisles will be less congested as bathrooms will be far away from galleys where meals are prepared. 'It's going to deliver a better passenger experience than you've ever had before on any other plane,' O'Leary said. Stein said the state is already home to more than 400 aerospace companies. And the Piedmont Triad airport has emerged as an industry hot spot, with Honda Aircraft placing its headquarters there and Boom Supersonic building its first full-scale manufacturing plant for next-generation supersonic passenger jets. The central location and easy access to interstates also lured Toyota to build an electric battery plant in adjoining Randolph County. North Carolina's previous largest economic development project, measured by employment, was revealed in 2022, when Vietnamese automaker VinFast announced plans to build an electric vehicle manufacturing plant in Chatham County, promising 7,500 jobs.
Wall Street Journal
12-06-2025
- Business
- Wall Street Journal
TNB Tech Minute: Micron to Invest Billions in U.S. Chip Manufacturing - Tech News Briefing
Full Transcript This transcript was prepared by a transcription service. This version may not be in its final form and may be updated. Victoria Craig: Here's your TNB Tech Minute for Thursday, June 12th. I'm Victoria Craig for the Wall Street Journal. Micron Technology said today it plans to invest more than $200 billion in U.S. semiconductor manufacturing. The investment includes two high-volume fabrication plans in Idaho, up to four in New York, and an expansion and modernization of an existing location in Virginia. Micron said the investments will create roughly 90,000 direct and indirect jobs. The memory and storage solutions company made the announcement in partnership with the Trump administration, which is sought to ramp up domestic manufacturing and make America the dominant player in AI. Elsewhere, BioNTech has agreed to buy clinical-stage biotech company CureVac in an all-stock deal, valued at about one and a quarter billion dollars. BioNTech CEO said the plan to bring the two German companies together will allow them to develop transformative cancer treatments. The deal is expected to close this year. And finally, an aerospace company based in Long Beach, California, JetZero, has long-pitched a spacious, fuel-efficient commercial plane of the future. Now, it's actually going to build it. The Journal exclusively reports the company plans to break ground next year on a manufacturing plant in North Carolina. It'll invest nearly $5 billion on the project, which will employ more than 14,500 workers. JetZero says that'll put it on track to roll out its blended-wing planes for commercial use by 2032. For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing podcast.
Yahoo
12-06-2025
- Business
- Yahoo
JetZero plans to build $4.7B plant in North Carolina, aims to create 14,500 jobs
GREENSBORO, N.C. (AP) — JetZero Inc. announced plans Thursday to build its first manufacturing plant for a next-generation passenger jet in central North Carolina, a project that if successful would create more than 14,500 jobs there in a decade. The California-based startup intends to build the factory at Greensboro's airport, investing $4.7 billion. The planned hirings from 2027 through 2036 would be the largest job commitment in North Carolina history, according to Gov. Josh Stein. The company previously identified Greensboro as one of three finalists for the factory to build its fixed-wing — also known as all-wing or blended-wing — Z4 aircraft, which JetZero says will be 50% more fuel-efficient than traditional tube-and-wing airliners. JetZero has said it's already received about $300 million in investment in the Z4 project, including a U.S. Air Force grant to build and fly a demonstrator model by 2027. United Airlines and Alaska Airlines also are project investors and have made conditional purchase agreements for their fleets, the company said. JetZero aims for the planes to go into service in the early 2030s, with a goal of completing 20 airplanes per month at full production. Stein, on hand with JetZero executives and other officials for the formal announcement at Piedmont Triad International Airport in Greensboro, cited North Carolina's robust aerospace industry and the first manned powered flights at Kitty Hawk by the Wright brothers in 1903. 'North Carolina is the perfect location,' Stein said. 'North Carolina was first in flight. We are also the future of flight.' The jobs would pay minimum average salaries of more than $89,000, according to the state Department of Commerce, which provided details of the project earlier Thursday to a state committee that awards economic incentives. State and local monetary and training incentives for JetZero and the project described at the committee meeting could exceed $2.35 billion by the 2060s if investment and job-creation thresholds and other requirements are met. A portion of state incentives awarded by the committee — more than $1 billion over 37 years — is based on a percentage of income taxes withheld from plant workers' paychecks. The incentives also include up to $785 million from Guilford County and Greensboro and $450 million from the General Assembly to help with infrastructure, officials said. The project includes a research facility for composite structures. A commerce department official said that JetZero, headquartered in Long Beach, California, looked for over a year for a plant location, examining 25 sites in 17 states. JetZero, currently with just 225 workers, enters a jet purchasing market dominated by industry behemoths U.S.-based Boeing and European Airbus. 'We have already shown strong commercial interest and momentum to meet the real airline demand for this aircraft,' CEO Tom O'Leary said. 'So this is more than just a factory. It's a launchpad for a new chapter of American aerospace.' While a variant of the Z4 would have tanker and transport uses in the military, JetZero has said that it would focus first on building a commercial jetliner with about 250 seats and a range of 5,000 nautical miles. The 5-year-old company says the plane's shape will reduce drag and the mounting of engines on the top and back of the plane will make it much quieter than traditional airliners. The Z4 would run on conventional jet fuel but could be converted to hydrogen fuel, according to JetZero. JetZero says Z4 travelers will board through larger doors and into shorter but wider cabins, and aisles will be less congested as bathrooms will be far away from galleys where meals are prepared. 'It's going to deliver a better passenger experience than you've ever had before on any other plane,' O'Leary said. The state is already home to more than 400 aerospace companies. And the Piedmont Triad airport has emerged as an industry hot spot, with Honda Aircraft placing its headquarters there and Boom Supersonic building its first full-scale manufacturing plant for next-generation supersonic passenger jets. The central location and easy access to interstates also lured Toyota to build an electric battery plant in adjoining Randolph County. North Carolina's previous largest economic development project, measured by employment, was revealed in 2022, when Vietnamese automaker VinFast announced plans to build an electric vehicle manufacturing plant in Chatham County, promising 7,500 jobs. The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
