State budget allocates $133.9M for delayed JetZero project

JetZero, a commercial aircraft manufacturing facility under construction at Piedmont Triad International Airport in Greensboro, has been allocated $133.9 million in the state budget, announced on June 30, to fund improvements to the site. 

The facility is projected to create more than 14,000 jobs by the end of 2037. JetZero is investing $4.7 billion into the manufacturing facility, and this will be the largest economic development in state history, supported by a Job Development Investment Grant.

$133.9 million in non-recurring funds for FY27 is allocated in the state budget “for acquisition and improvements at the project site,” from the Economic Development Project Reserve. 

“It’s unfortunate that budget writers are choosing to double down on this corporate welfare giveaway to a project that has already announced a delay,” Brian Balfour, VP of research for the John Locke Foundation, told the Carolina Journal. “Taxpayers should not be forced to subsidize the bottom line of politically chosen corporations. Investments in business ventures should be voluntary. Moreover, the track record of these corporate welfare schemes are terrible. Roughly 80% of these taxpayer-subsidized projects end in failure to meet the stated hiring goals. Making matters worse is the fact that these additional funds will be diverted from a special reserve fund, meaning that the budget can classify it as a ‘receipt-supported’ expenditure and therefore it won’t be counted in the General Fund spending total. This shell game obscures the true nature of state spending and is a practice that should be stopped.”

The funding is earmarked to be used as indicated: $15 million for each year of the 2025-27 biennium for acquisition of up to 150 acres of needed land at the airport; $45 million for FY26 and $50 million for FY27 for access road and taxiway construction, grading, engineering, and site analysis, preparation, and work. 

Another $7.9 million for FY26 and $13.7 million for FY27 to the NC Department of Transportation (NCDOT) for roadwork needed at the airport related to the project; $5 million was allocated to Greensboro for water and sewer infrastructure related to the project. For FY26, $10.2 million and $200,000 for FY27 were allocated for renovation costs and capital improvements to an existing airport hub, or to offset costs incurred with the Federal Aviation Administration. 

Finally, $35 million for FY26 and $55 million for FY27 were allocated for construction administration, demolition, contractor fees, building services, and much more. 

In late May, JetZero announced it would push back its hiring timeline, citing delays in the state budget. While the initial hiring target of more than 14,000 jobs remains unchanged, it has been pushed back a year from 2036 to 2037. Changes were made to the initial hiring ramp: no hiring in 2027, with ramp-ups in 2028 and 2029 to keep the initial hiring targets on track.

The announcement that JetZero would be coming to North Carolina was first made back in June of 2025, and an initial $118 million was allocated for the project in the 2025 mini budget.

The budget requires that a report on the use of funds be provided to both the House and Senate.

“State budget allocates $133.9M for delayed JetZero project” was originally published on www.carolinajournal.com.