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Area Development - Site Selection, Facility Planning and Workforce Development

Pratt & Whitney Expands Buncombe County, North Carolina, Production Operations

01/31/2025
Pratt & Whitney, an RTX business, plans to expand its operations in Ashville, North Carolina. The $285 million project is expected to create 325 jobs in Buncombe County.

The investment will expand production capacity at the company’s existing turbine airfoil manufacturing facility.

“Pratt & Whitney’s continued investment in Asheville is critical to meet the growing demand for our products, such as the GTF for the A320family and the F135 for the F-35 Lightning II,” said Asheville General Manager for Pratt & Whitney Dan Field. “We would like to thank the state, Buncombe County and Governor Stein for their support on this project. This latest round of investment allows 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 project will be supported, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by nearly $2.1 billion. Using a formula that takes into account the new tax revenues generated by the new jobs and the capital investment, the JDIG agreement authorizes the potential reimbursement to the company of up to $4,202,250, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets.

The project's projected return on investment of public dollars is 317 per cent, 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’s reimbursement payments to a given company.

“The aviation industry is a key driver of North Carolina’s economic success and Pratt & Whitney’s decision strengthens our aerospace ecosystem substantially,” noted Commerce Secretary Lee Lilley. ?“We will continue to invest in support systems, like our community colleges and universities, that help employers like Pratt & Whitney succeed in our state—and bolster Western NC's economy.” Because Pratt & Whitney chose to expand in Buncombe County, classified by the state’s economic tier system as Tier 3, the company’s JDIG agreement also calls for moving $1,400,750 into the state’s Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 3 county such as Buncombe, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state.

"This is economic mobility for 1,100 families in our community. But more importantly, it's a side of optimism for our community from a Fortune 500 organization that's committed to a bright future here," added Clark Duncan, senior vice president of economic development, Asheville Chamber of Commerce.

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina (EDPNC) on this project were the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Departments of Revenue and Transportation, N.C. Commerce’s Division of Workforce Solutions, the Office of Congressman Chuck Edwards, the Golden LEAF Foundation, Duke Energy, Asheville-Buncombe Technical Community College, Biltmore Farms, Buncombe County, the City of Asheville, and the Economic Development Coalition of Asheville and Buncombe County.

Pratt & Whitney designs, manufactures, and services aircraft engines and auxiliary power units.

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