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 $2.3 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 $784 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.