JetZero Considers Plant at Piedmont Triad International Airport, Seeks Economic Incentives

The Guilford County Board of Commissioners will hold a special economic-incentives meeting on June 12 amid confirmation that fledgling passenger airline manufacturer JetZero is considering a plant at Piedmont Triad International Airport.

The company disclosed in April plans for a U.S. production facility with the potential for 10,000 employees.

A legal notice lists the meeting for 10 a.m. at the Old County Courthouse, 301 W. Market St. in Greensboro.

The notice said an unnamed manufacturer is requesting performance-based economic incentives of up to $75.93 million over 20 years. The notice said the manufacturer is likely to be identified at the special meeting.

The notice said the manufacturer is considering other locations, although an internet search for JetJero does not reveal competitors for PTI.

Jenny Dervin, JetZero's head of communications and public relations, said May 9 that while "it's been widely reported that North Carolina is in the running, we aren't confirming any other candidate sites in order to maintain the integrity of the process."

JetZero officials said a plant site announcement could be made before or at the high-profile Paris Air Show that runs June 16-22.

JetZero projects its airplane will be ready for the first demonstrator test flight in 2027 and for commercial flight service by 2030.

The legal notice unusually does not include a job or capital investment pledge.

It's likely the city of Greensboro will offer an incentive package, as well as the N.C. Commerce Department.

Depending on the size of the capital investment and job creation commitment, the state legislature may be required to approve the state incentive offer.

Typically, when a public hearing has reached the economic incentive package stage, the incentives are approved, and the company commits to the project shortly thereafter.

To put the incentive request into perspective, Publix Super Markets Inc. was made eligible for a combined $37.2 million in incentives from commissioners and the Greensboro City Council.

Publix committed in February 2020 to hiring at least 500 employees by 2023 and at least 1,000 employees by the end of 2025. As of Dec. 31, 2023, Publix had created 1,072 jobs, as well as spent $440.2 million on capital investments.

Boom Supersonic has pledged to hire at least 1,761 employees at PTI for its $500 million manufacturing, assembly, testing and distribution facility. The combined local incentive offer is $29.5 million.

JetZero details

The aviation publication Leeham News & Analysis has reported the proposed JetZero plant will be on a 1,000-acre site with a building about the size of Boeing’s widebody plant in Everett, Washington.

For context, the Guinness Book of World Records lists the Boeing building as large enough to fit all of Disneyland or 75 American football fields inside.

PTI executive director Kevin Baker has declined to comment about a potential JetZero project.

When asked about JetZero, Piedmont Triad Airport Authority chairman Graham Bennett confirmed the airport campus has the ability to meet a 1,000-acre request within the remaining undeveloped 4,000 acres.

“There’s the capacity to make another big deal, or several smaller deals,” he said. “Because you never know the need of somebody that knocks on our door.”

JetZero confirmed in May it is pursuing billions of dollars in private-equity funding.

Next steps include securing an engine maker and testing the prototype. JetZero is planning for a monthly production rate of 20 aircrafts five years into full production.

If JetZero selects an airport site, it would join Boom, HondaJet, Marshall APTI Aerospace and FedEx in a burgeoning aerotropolis sector at PTI.

What is JetZero?

According to JetZero’s website, it is developing what it markets as the “world’s first commercial blended wing body airplane,” featuring two engines side by side at the rear of the 250-seat aircraft that resembles a stingray.

JetZero said its Z4 airplane “is an all-wing design — producing more lift and reducing drag, resulting in up to 50% better fuel efficiency for airlines.”

“With 250-passenger capacity and a range of 5,000 nautical miles, it is designed for the unmet middle-market routes,” the company said.

The manufacturer said the airframe design allows for cabin changes that include dedicated overhead bin space for each passenger, accessible seats and lavatories, and fewer rows.

The company is involved in collaboration efforts with the U.S. Air Force, NASA and Federal Aviation Administration.

Alaska Airlines and Delta Air Lines are listed as potential customers.

United Airlines announced in April an unidentified investment in JetZero that the airline said "includes a path to order up to 100 airplanes and an option for an additional 100."

"The conditional purchase agreement is based on JetZero achieving development milestones, including flight of a full-scale demonstrator in 2027, among other conditions, including that the aircraft meet United's safety, business and operating requirements."

In announcing in March an expansion of the Delta partnership, JetZero co-founder and chief executive Tom O’Leary said the manufacturer “is working to change the world by bringing to market an aircraft that aims to fly this decade and make immediate and marked progress toward reducing airline energy costs, and the associated emissions.”

“The ability to realize such significant efficiency gains in the near future meaningfully impacts the industry’s commitment to reach net-zero emissions by 2050 and will serve as the foundation on which other technologies and efficiencies can be realized.”

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