RTX’s Pratt & Whitney plans to expand its Buncombe County operations with a $285 million investment that it expects will create 325 jobs. 

Pratt & Whitney opened a jet engine parts plant in south Buncombe County in 2022 with a $650 million investment. The division of RTX announced the plant in 2019, and it’s already created 896 positions. The 1.2 million-square-foot plant on 445 acres is expected to employ about 1,200 workers by 2029.

The new jobs will be added over the next five years, starting in 2026, and pay an average annual wage of $62,413. The current average in Buncombe County is $55,607, and $67,474 for the state as a whole.

Gov. Josh Stein called Pratt & Whitney’s investment a vote of confidence for the region, which is recovering from the impact of Hurricane Helene in late September. “Western North Carolina’s economy took it on the chin after Hurricane Helene, yet still it remains an incredible place to work and do business,” Stein said in a release.

The Asheville metro area remains 2,000 jobs short of its pre-hurricane employment level, according to a state report released Tuesday.

The state’s Economic Investment Committee authorized a Job Development Investment Grant valued at $4.2 million spread over 12 years to help facilitate Pratt & Whitney’s expansion. Neither Buncombe County nor the city of Asheville will contribute incentives for this project.

The projected return on investment of public dollars is 317%, meaning for each dollar of potential cost, the state is expected to receive $4.17 in state revenue, according to the Department of Commerce.

On the original project, the state gave Pratt & Whitney a JDIG worth $15.5 million spread over 12 years, which was coupled with an additional $27 million from Buncombe County. The Golden LEAF Foundation also awarded $12 million to the Asheville Chamber’s Community Betterment Foundation to support the construction of a bridge crossing the French Broad River and connecting to N.C. 191, providing access to the plant. Pratt and Whitney has exceeded its goal of 800 jobs with the initial investment.

Pratt & Whitney is a leader in the design, manufacture and service of aircraft engines and auxiliary power units. It ha 17,000 customers in more than 200 countries and territories, with 90,000 engines currently in service.

The company’s Asheville facility produces high-tech turbine airfoils, a component in aircraft jet engines.

“Pratt & Whitney’s continued investment in Asheville is critical to meet the growing demand for our products, such as the GTF for the A320 family and the F135 for the F-35 Lightning II,” said Asheville General Manager for Pratt & Whitney Dan Field.

Arlington, Virginia-based RTX was known as Raytheon Technologies until 2023. The rebranding came after its merger with United Technologies in 2020. It’s the world’s largest defense and aerospace business with more than 185,000 global employees, including 60,000 engineers. In 2023, RTX had net revenue of $68.9 billion.

RTX has a market capitalization of about $171 billion. Its shares have gained about 42% in the past year.

RTX considered a site in Palm Beach County, Florida, for this expansion. North Carolina won out because of its work force, business climate, quality of life and incentives, according to the state.