Here’s an excerpt from the Asheville Citizen-Times article:
Asheville will be home to the nation’s first factory manufacturing ceramic matrix composites, a revolutionary new material that can be used in jet engines to reduce fuel costs and greenhouse gases.
GE Aviation officially confirmed the $126 million investment of new equipment and an additional 52 jobs for Asheville, unveiling the CMC components for a new generation of jet engines today at the 50th International Paris Air Show.
“Asheville would be our first factory involved in the mass production of CMC components,” said David Joyce, president and CEO of GE Aviation. “We believe the future Asheville plant will be on the ground floor of a new technology that will change aviation.”
The details of the complex deal, labeled locally as Project X, were finally unveiled after weeks of secrecy. Buncombe County commissioners and Asheville City Council held public hearings and voted to approve just more than $4 million in cash incentives over the next 10 years for a company that went unidentified for months.
Asheville was the lynchpin in a $195 million deal that included GE Aviation plants in Ashe County, Durham and Wilmington. Durham and New Hanover boards recently approved incentives of $400,000 and $800,000 respectively.
The deal is still dependent on incentives from the state of North Carolina.