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Area Development - Site Selection, Facility Planning and Workforce Development

American Titanium Metal Plans Fayetteville, North Carolina, Operations

07/25/2024
Titanium manufacturer American Titanium Metal, doing business as Project Aero, plans to establish operations in Fayetteville, North Carolina. The $867.8 million project is expected to create 304 jobs in Cumberland County.

The new 500,000-square-foot manufacturing facility will melt, roll and finish titanium.

“It has been a pleasure working with North Carolina’s Department of Commerce, the Fayetteville Cumberland Economic Development Corporation, Cumberland County, the City of Fayetteville, Fayetteville PWC, and Piedmont Natural Gas,” said Teresa McBride, Chairman of Project Aero. “Aerospace has continuously pushed the boundaries of human potential and plays a pivotal role in our nation's economic growth while bridging distances, transforming economies, and securing our future.”

The project is being supported, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee. Over the course of the 12-year term of this grant, the project is estimated to grow the state’s economy by $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 $8,026,000, 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.

“Companies only make such significant capital investments when they are confident in the business conditions and collaborative partners at the location they choose,” noted North Carolina Commerce Secretary Machelle Baker Sanders. “North Carolina once again comes through with flying colors, and we welcome Project Aero to our great state to join our growing aerospace sector.’’

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on the project were the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Department of Transportation, N.C. Commerce’s Divisions of Workforce Solutions and Rural Economic Development, Piedmont Natural Gas, the Fayetteville Public Works Commission (PWC), the City of Fayetteville, Cumberland County, and the Fayetteville Cumberland County Economic Development Corporation.

“We are pleased that American Titanium Metal has chosen North Carolina as the location of its newest manufacturing facility,” added Christopher Chung, CEO of the Economic Development Partnership of North Carolina (EDPNC). “Companies like American Titanium Metal are attracted to our available highly skilled workforce, top-notch education systems, and leadership in the manufacturing and aerospace sectors.”

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