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Wed April 3, 2013
TIMCO Closer to Greenlight for Expansion
TIMCO officials are optimistic Guilford County Commissioners will financially support its expansion plan. It already has a verbal commitment from the North Carolina Department of Transportation Aviation's Division for $4 million towards this venture. And Tuesday, the Greensboro City Council voted unanimously to offer it $400,000 worth of incentives.
For 20 years, the aviation maintenance company has been based in Greensboro and it employs just under 1800 people at its four repair hangers at Piedmont Triad International Airport (PTI) and at its seat manufacturing operation in Davidson County. Kip Blakely is Vice President of Industry and Government Relations. According to Blakely, the Greensboro incentive money will be used to prepare sites for two new hangers at PTI. “We’re building the hangers with the intent of working on the aircrafts that are in the market today and the aircrafts that will be in the market in the future,” said. “Specifically, the new 787, the new 320 Neos and the new 737 MAX, which are all commercial aircrafts that airlines around the world will be flying in the next ten to fifteen years.”
This expansion will create about 400 new jobs ranging from engineers, air frame and power technicians, sheet metal workers and avionics technicians. The average salary will be about $46,000. Five other locations across the country are competing for TIMCO to expand in their area.
TIMCO services national airline companies and repairs about 25-to-30 airplanes per month at its four Greensboro hangers. The new hangers will allow technicians to handle 4-7 additional large planes per month. Blakely also says changes in the aviation marketplace make now a good time to expand. “Airlines are adding more aircrafts to their fleet. And as the market in the Far East changes, their consumer price index has been going up 10-12% annually, we are within 12 months of being competitive with Asian maintenance and repair stations.” Blakely estimates the expansion will cost between $35 million and $40 million dollars. Thursday, Blakely and other TIMCO officials will ask Guilford County Commissioners for financial support. They also plan to request $2 million of asssitance from the Golden LEAF Foundation North Carolina.