Under the terms of the grant, the company will invest $500 million by 2030.īoom’s project is estimated to grow the state’s economy by at least $32.3 billion over 20 years, about the same time period over which the Job Development Investment Grant would be made, according to the North Carolina Department of Commerce.

The state has also approved an $87.3 million Jobs Development Investment Grant (JDIG) for the company, which will receive the grant funding only if it meets employment and investment goals set out by the state. These improvements include the construction of the initial building, site work and access roads.

The North Carolina legislature approved $106.7 million for improvements at PTI to help secure the aerospace manufacturer. PTI faced heavy competition for the Boom Supersonic project from multiple airports. An additional production facility will be added as demand requires. The initial phase of the project at PTI will involve the development of a production hangar fronting the south side of Interstate 73 where Boom will manufacture aircraft. The company plans to have Overture ready to enter service in 2029. Overture will be 205 feet long, carry 65 to 88 passengers, have a cruising altitude of 60,000 feet and a range of 4,888 miles. Boom chose the Piedmont Triad because of our transportation and airport infrastructure, available educational opportunities and business-friendly environment,” said Paul Mengert, Chairman of the Piedmont Triad Airport Authority.īoom Supersonic is developing a sustainable, supersonic aircraft capable of speeds twice as fast as today’s commercial airliners. Boom Supersonic had many options where it could locate its manufacturing facilities. “We are excited to welcome Boom Supersonic to PTI, the Center of North Carolina Aerospace. Annual salaries for the new jobs created by Boom will vary by position but will average $68,792. The project will bring an investment of more than $500 million through 2030. The Overture Superfactory campus at PTI will create 1,761 jobs through 2030. For example, flights onboard Overture will shrink travel time to less than four hours from New York to London.

PIEDMONT TRIAD, NC, Janu– Governor Roy Cooper announced Wednesday that Boom Supersonic has chosen Piedmont Triad International Airport as the location where it will manufacture its new supersonic passenger aircraft, Overture, which will be capable of flying at twice the speed of today’s fastest passenger jets. Project to create more than 1,750 Jobs at first US supersonic airliner factory

Boom supersonic