The Pratt & Whitney expansion site in Asheville, North Carolina, represents a significant investment in the local economy.
Pratt & Whitney, a leading aerospace manufacturer, has announced a $285 million expansion in Asheville, North Carolina, which will create 325 new jobs in the local area. The company’s investment will significantly benefit the regional economy, with an average salary of $62,413 for new positions, marking a positive development for Buncombe County. This growth not only increases production capacity but also highlights the commitment of Pratt & Whitney to the community’s recovery and development after recent challenges.
Asheville, North Carolina, is buzzing with thrilling news as Pratt & Whitney, a renowned global aerospace manufacturer under the umbrella of RTX Corp., has announced a significant expansion of its operations in the area. This is a big deal for the local community as it will create 325 new jobs in Buncombe County. Isn’t that fantastic?
The expansion is set to involve a whopping $285 million investment, which showcases the company’s commitment to the region. North Carolina Governor Josh Stein made the announcement on January 28, 2025, marking a significant milestone for both the company and the community.
The best part? The average salary for these new positions will be $62,413, which is notably higher than Buncombe County’s current average wage of $55,416. With an anticipated annual payroll impact exceeding $20 million, this project promises to inject substantial cash flow into the local economy. How great is that for job seekers and their families?
So, what exactly will these new jobs involve? The Asheville facility specializes in producing turbine airfoils, an essential component of aircraft jet engines. This expansion aims to increase production capacity, ensuring that Pratt & Whitney can efficiently meet the growing demand from its customers.
Pratt & Whitney opened its Asheville plant back in the fall of 2022, following an announcement in October 2020. Since then, they have successfully hired over 800 local residents and surpassed their initial hiring goals. This is not just a story of growth for the company; it’s a tale of hope and recovery for the community.
The new positions will be added gradually, starting in 2026 and expected to be completed by the end of 2029. By then, total employment at Pratt & Whitney’s Asheville site is projected to reach around 1,200 workers. Imagine the thriving community and the bustling activity at the plant!
To support this expansion, the N.C. Economic Investment Committee has approved a tax incentive grant that could be worth up to $4.2 million. This grant is contingent on the company creating additional jobs and making further investments. It’s a win-win situation!
Governor Stein has pointed out that this investment serves as a strong vote of confidence in the region’s recovery efforts following Hurricane Helene. It’s a reassuring sign that growth and resilience go hand-in-hand, especially after challenging times.
RTX, formerly known as Raytheon Technologies, is among the world’s major defense contractors, boasting around $80 billion in revenue in 2023. The company’s decision to expand in Asheville rather than a site in Palm Beach County, Florida, speaks volumes about the area’s skilled labor supply and favorable business climate.
The expansion of Pratt & Whitney is not just a company milestone; it’s a bright beacon of hope for Asheville. With an estimated $2.1 billion economic impact on North Carolina, it’s safe to say that this growth is set to ripple through the local community in incredible ways. More jobs mean more opportunities, and that’s something to celebrate!
Pratt & Whitney Expands Operations in Asheville, Creating 325 Jobs
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