• 41°

NC OKs incentives for GE Aviation

RALEIGH (AP) — A subsidiary of one of the largest U.S. companies is getting a rich incentives package estimated at up to $27 million to add about 240 jobs at four North Carolina factories within five years.
GE Aviation, a division of General Electric Co., could get state tax breaks worth up to nearly $5 million if the company meets hiring and investment targets, Gov. Pat McCrory’s office said Tuesday.
That’s on top of county and city governments offering land, cash and tax breaks that local newspapers reported to total more than $22 million and state business recruiters estimated worth nearly $11 million.
GE Aviation plans a parts factory near its existing Asheville plant to produce jet engine components made of advanced ceramic materials. GE Aviation says ceramic matrix composite materials, known as CMC, are critical for its next-generation aircraft engines because their ultra-light weight can handle extremely high temperatures in jet turbines.
Asheville will be the company’s first factory involved in the mass production of CMC components, GE Aviation CEO David Joyce said in a prepared statement. The company’s decision to locate the plant in Asheville was announced last month pending the approval of state incentives.
The new factory also is expected to boost employment at GE Aviation’s existing plants in Durham, West Jefferson and Wilmington. GE Aviation now has more than 1,300 employees in North Carolina.
“The aviation industry is a critical target sector for North Carolina, one that is becoming increasingly important to sustainable job and investment growth for the state,” state Commerce Secretary Sharon Decker said.

Comments

Comments closed.

Education

Cooper vetoes bill that would force K-12 schools to reopen

Local

Lanning named Spencer’s fire chief

Crime

Blotter: Feb. 26

Crime

Salisbury, Kannapolis men charged with soliciting sexual acts

News

Racial bias ‘deeply entrenched’ in report critical of Apex Police Department

Nation/World

US bombs facilities in Syria used by Iran-backed militia

Elections

City council again dismisses idea of adding new member, focus now on recommendation to delay elections

Business

‘Let’s make some money:’ Loosened restrictions praised by bar owners, baseball team

High School

Salisbury High bucks historical trend in dominant shutout of West Rowan

Enochville

Garage declared total loss after Enochville fire

Crime

Cooper, N.C. prison officials agree to release 3,500 inmates

Coronavirus

Two more COVID-19 deaths reported in Rowan, six for the week

Crime

Blotter: Man brandishes AR-15, runs over motorcycle at Rockwell-area gas station

Crime

Salisbury man charged with exploitation of minor

Crime

Road rage incident results in assault charges

Local

Dukeville lead testing results trickle in, more participation needed

Education

Faith Academy interviewing staff, preparing site for fall opening

News

Volunteers work around obstacles, alter procedures to offer free tax services to those in need

Education

Education shoutouts

Local

Retired Marine gets recognition for toy collection efforts

Local

March issue of Salisbury the Magazine is now available

Education

Five get Dunbar School Heritage Scholarships

Education

Education briefs: Salisbury Academy fourth-graders think big as inventors

Education

Bakari Sellers keynote speaker at Livingstone College Founder’s Day program