ASHEVILLE, N.C.– In conjunction with the Economic Development Coalition for Asheville-Buncombe County (EDC), GE Aviation broke ground on a new $126 million facility that will revolutionize jet propulsion on Thursday, November 14. This substantial investment will lead the way for new technology, design and materials that will make GE jet engines the industry standard for efficiency, while simultaneously reducing emissions.
ASHEVILLE, N.C.– In conjunction with the Economic Development Coalition for Asheville-Buncombe County (EDC), GE Aviation broke ground on a new $126 million facility that will revolutionize jet propulsion on Thursday, November 14. This substantial investment will lead the way for new technology, design and materials that will make GE jet engines the industry standard for efficiency, while simultaneously reducing emissions.
"GE Aviation's new factory in Buncombe County is a major endorsement of our local manufacturing talent. This groundbreaking technology is the most sophisticated and proprietary ever entrusted to our region by such a prominent global corporation. It should put Asheville at the top of the list for any company with demanding manufacturing needs, especially those with green attributes."
Asheville’s economy is vibrant – since January of 2009 the EDC for Asheville-Buncombe County has announced 34 projects, from both recruitment and expansion efforts, bringing 2,700 new positions and more than $791 million in capital investment to Buncombe County.
“The Ceramic Matrix Composite facility expansion will add 52 new positions to its current workforce of approximately 300,” said Michael Meguiar, Asheville Plant Leader for GE Aviation. “North Carolina was up against 12 other states for the potential location of this new facility. One of the competitive advantages that ultimately drove GE Aviation to choose North Carolina and Buncombe County is because of its extremely talented workforce.”
The new facility is estimated to generate $1.2 million annually in new city and county property tax receipts.It also will begin to sustain more than 750 direct, indirect and induced jobs in and around Asheville, with $34 million in annual income, and $4.3 million in annual state and local taxes.
Buncombe County and the City of Asheville have worked closely with GE Aviation to retain and expand local production capabilities to accommodate production of a revolutionary aircraft engine material known as Ceramic Matrix Composite (CMC). According to industry research, a jet engine constructed using CMC materials can reduce fuel consumption by 15 percent, resulting in annual fuel savings of more than $1 million for each plane. Aircraft powered by GE jet engines take flight around the world every two seconds, with demand for CMC components anticipated to increase ten-fold over the next decade.
The EDC for Asheville-Buncombe Countyis a public-private partnership committed to: creating and retaining high quality jobs, community leadership, and being a resource for better business decisions. The EDC accomplishes this mission through its four core services: business retention and expansion, small business and entrepreneurship, research, and marketing and recruitment. The EDC is funded by Buncombe County, the City of Asheville, the Town of Weaverville, the Asheville Area Chamber of Commerce and the AVL 5×5 Campaign.
The Asheville Area Chamber of Commerce is a 2,000+ member organization representing 86,000 employees. Chamber members collaborate with community organizations and coalitions to support the community and each other with the mission of increasing the region’s livability by advancing its economic vitality. The Asheville Chamber works diligently to ensure that Asheville continues to prosper while also protecting the natural beauty of the area. In 2006, the Chamber moved to a new location and is now home to the 4,000 square foot Visitor Center which welcomes 200,000 visitors per year.
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