Baker expects Boom to follow a similar path.
“It’s a start-up. They have a long way to go,” he said. “Developing and certifying an aircraft doesn’t happen overnight. It takes a long time. And there are a lot of hurdles along the way. But I see no reason to believe they won’t. won’t succeed.”
Honda received $9.5 million in state and local incentives to open its manufacturing plant at PTI. A dozen years later, the company had about 1,900 employees at the airport, Baker said.
He says state and local subsidies, tax breaks and government investments in the airport will come back many times over. The 8,600 people who work at PTI earn an average of $65,000 a year — or $559 million — and that doesn’t count off-campus vendors or how those salaries are spent in the community.
North Carolina’s investments in aerospace have not always paid off. The state has spent tens of millions to develop the North Carolina Global TransPark, an activity park around an 11,500-foot track outside the small eastern town of Kinston that remains largely undeveloped.
Kasarda, who designed the Global TransPark more than 30 years ago, said it didn’t take off primarily due to lack of access to interstate highways. But he says the state has done well in attracting aerospace companies, including Collins Aerospace in Charlotte, GE Aviation in Durham and outside Asheville and Wilmington, and Spirit AeroSystems, which makes parts for airframes. ‘Airbus at TransPark.