Dec. 26—Editor’s note: No. 9 of the top 10 stories of 2023.
TRIAD — The Toyota Corp. electric car battery manufacturing complex in Randolph County and the Boom Supersonic aircraft factory at Piedmont Triad International Airport last year continued on pace toward opening and reshaping the region’s economy.
Toyota, which announced plans for its operation at the Greensboro-Randolph Megasite in December 2021, unveiled a significant expansion of the project in late October.
Toyota announced a new investment of nearly $8 billion that will add an estimated 3,000 jobs at its Toyota Battery Manufacturing North Carolina operation, bringing its total investment to $13.9 billion and its jobs target to more than 5,000.
The additional investment will add eight electric vehicle and plug-in hybrid electric vehicles battery production lines to the two previously announced, for a total of 10 battery lines.
“We want to be the global leader for electric vehicle battery manufacturing,” Toyota North Carolina President Sean Suggs said during a press briefing at the time.
When built to capacity, the complex will cover 7 million square feet, the equivalent of 121 football fields, on a 1,000-acre tract. The complex is under construction in the town of Liberty in northeastern Randolph County. Toyota intends to deliver its first orders to customers in January 2025.
The projected impact in investment and job creation by Toyota is reflected in the trend with announcements about the status of the project.
When Toyota announced in December 2021 that it picked the megasite, the initial planned investment was $1.29 billion, and officials planned to create 1,750 new jobs. At the time it was the single-largest economic development project in North Carolina history. This past May Toyota announced the investment would total $5.9 billion and 2,100 new jobs.
At the press briefing this past fall Suggs said the latest upgrade in the expectation of the plant reflects Toyota’s confidence in the hybrid and electric vehicle market and expectation of customers.
Boom Supersonic, which announced it had picked PTIA for its new supersonic jet project in January 2022, continued to progress on an ambitious schedule company officials previously promoted.
In November Boom Supersonic leadership said the aircraft factory, where a new supersonic passenger jet will be manufactured, would be built ahead of the original construction schedule. The building will be complete in the second quarter of 2024.
The company wants to roll out its first completed jets, which it calls Overture, in 2026 and receive Federal Aviation Administration certification to launch commercial flights in 2029.
Boom Supersonic also announced last month that its demonstration model completed a number of tests, including engine operation and taxi testing.
The company, based in Colorado, picked Piedmont Triad International Airport for the supersonic jet operation after a national search for a site.
TOP 10 STORIES Today marks the countdown of the top 10 stories of 2023. We will publish two stories per day, with the top two stories to be published in Saturday’s edition.
pjohnson@hpenews.com — 336-888-3528 — @HPEpaul
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