KINSTON — Aviation company Aircraft Solutions, with its “self-developed most effective new recycling technology,” is investing nearly $100 million to establish a new aircraft recycling center at North Carolina’s Global TransPark in Lenoir, County.
The uptick: it will create 475 jobs with the average salary for the new positions will reach as high as $47,069, Governor Roy Cooper announced today
“Our state’s aerospace industry is taking off with the Global Transpark as a hub in rural eastern North Carolina,” said Governor Cooper, in a statement. “From first in flight to first in skilled workers, global companies like Aircraft Solutions will find North Carolina to be a great place to grow and thrive.”
Aircraft Solutions serves commercial and military clients with aircraft that have reached their end of life stage and are ready for decommissioning. Despite an aircraft’s age, older airframes often contain many valuable parts and materials that can be recycled. Useful parts may include engines, undercarriage equipment, avionics, and in-flight entertainment systems. In phase one of the project, Aircraft Solutions’ new recycling center will systematically remove, catalog, and inspect parts, certifying them as either usable, repairable, or unfit for service. The company plans to establish a paint shop in phase two of the project.
“After an intensive research and great support from various sites, such as the ElectriCities Business Relocation Program and excellent communications with each of the involved public departments, we are confident that Global TransPark of Lenoir North Carolina is the right location for our tremendous project,” said Dr. Sven Daniel Koechler, General Manager of Aircraft Solutions USA Inc, in a statement.
“With our environmentally friendly and sustainable processes, we offer a real alternative to conventional boneyards and are proud to be able to build an architectural highlight in North Carolina with one of the largest hangars in the world. With our unique hanger system and our self-developed most effective new recycling technology, we are able to recycle up to 70 more Boeing 737 a year and will invest not only in the construction and modern equipment, but also in qualified workers and their families.”
Aircraft Solutions’ project in North Carolina will be facilitated, 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 the grant, the project will add nearly $958 million to North Carolina’s economy. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $4,782,000, 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. 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 North Carolina Global TransPark is an important center of aviation excellence in our state,” said N.C. Senator Jim Perry. “We welcome these new jobs and this significant investment to Eastern NC, and specifically Lenoir County. We are thankful for the teamwork that made this possible. Our regional delegation looks forward to working together to enable continued growth in the aviation sector.”
“Economic development projects require many organizations to collaborate closely in order to see a successful outcome,” said N.C. Representative Chris Humphrey. “I’m so pleased with the many partners in our region that came together and demonstrated why Lenoir County and the Global TransPark were the perfect location for this project.”