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Investing.com -- U.S. aircraft startup JetZero plans to invest $4.7 billion over a decade to build a production facility and headquarters in North Carolina, according to a statement released by the state on Thursday.
The deal includes more than $1.1 billion in state performance incentives that would be paid over nearly 40 years. These incentives are tied to JetZero creating over 14,000 jobs between 2027 and 2036, a state representative said.
JetZero will manufacture its 250-seater Z4 blended wing bodied aircraft at an airport site in Greensboro. The company will also receive an additional $450 million in infrastructure improvements to the airport facilities, along with city and county incentives.
The aircraft startup has secured investments from United Airlines and Alaska Airlines. United has placed a conditional order for up to 100 of JetZero’s fuel efficient airplanes, with options for another 100 aircraft.
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