TO: Mayor and Members of City Council
THRU: Douglas J. Hewett, ICMA-CM, City Manager
FROM: Robert Van Geons, FCEDC President & CEO
DATE: May 28, 2024
RE:
Title
Public Hearing on Project Aero
end
COUNCIL DISTRICT(S):
Council District(s)
N/A
b
Relationship To Strategic Plan:
Goal II - Responsive city government supporting a diverse & viable economy (Project Aero would create 300 jobs paying an average annual wage of $120,000, growing to 450 employees through a subsequent phase. This project would inject more than $36 million in annual payroll into our community. The positive impact this company would have on our local economy cannot be overstated.
Goal IV - City is a desirable place to live, work, & recreate (Project Aero would create a significant number of jobs paying well above the County's average annual wage, with a lowest starting salary expected to be $85,000. This would allow for more Fayetteville and Cumberland County residents to secure higher paying jobs, resulting in an improved quality of life.
Executive Summary:
Project Aero is considering Fayetteville and Cumberland County for its Integrated Titanium mill and purpose-built Titanium processing center. The project is also assessing other sites in multiple states. Incentives have been requested from the City and County to reaffirm our commitment to Project Aero and demonstrate that our community is the right location for this project, and a public hearing has been called to approve or deny those incentives.
Background:
This Transformational Project would create up to 450 jobs in Fayetteville an Cumberland County. The average salary for these jobs is projected at $120,000, exceeding the County average by 150%. Capital investment in phase one is expected to be $895 million, exceeding $1 billion in the project's second phase.
Project Aero is considering a 200+ acre site for its operations, located near the Goodyear Tire and Rubber facility along the R.J. Corman Rail Line. It ...
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