Project to create more than 1,750 Jobs at first US supersonic airliner factory

PIEDMONT TRIAD, NC, January 26, 2022 – Governor Roy Cooper announced Wednesday that Boom Supersonic has chosen Piedmont Triad International Airport as the location where it will manufacture its new supersonic passenger aircraft, Overture, which will be capable of flying at twice the speed of
today’s fastest passenger jets. For example, flights onboard Overture will shrink travel time to
less than four hours from New York to London.

The Overture Superfactory campus at PTI will create 1,761 jobs through 2030. The project will
bring an investment of more than $500 million through 2030. Annual salaries for the new jobs
created by Boom will vary by position but will average $68,792.

“We are excited to welcome Boom Supersonic to PTI, the Center of North Carolina Aerospace. Boom
Supersonic had many options where it could locate its manufacturing facilities. Boom chose the
Piedmont Triad because of our transportation and airport infrastructure, available
educational opportunities and business-friendly environment,” said Paul Mengert, Chairman of
the Piedmont Triad Airport Authority.

Boom Supersonic is developing a sustainable, supersonic aircraft capable of speeds twice as fast as
today’s commercial airliners. Overture will be 205 feet long, carry 65 to 88 passengers, have a
cruising altitude of 60,000 feet and a range of 4,888 miles. The company plans to have Overture
ready to enter service in 2029.

The initial phase of the project at PTI will involve the development of a production hangar
fronting the south side of Interstate 73 where Boom will manufacture aircraft. An additional
production facility will be added as demand requires.

PTI faced heavy competition for the Boom Supersonic project from multiple airports. The North
Carolina legislature approved $106.7 million for improvements at PTI to help secure the aerospace
manufacturer. These improvements include the construction of the initial building, site work and access roads.

The state has also approved an $87.3 million Jobs Development Investment Grant (JDIG) for the
company, which will receive the grant funding only if it meets employment and investment goals set
out by the state. Under the terms of the grant, the company will invest $500 million by 2030.

Boom’s project is estimated to grow the state’s economy by at least $32.3 billion over 20 years,
about the same time period over which the Job Development Investment Grant would be made, according to the North Carolina Department of Commerce.

“We look forward to having Boom Supersonic join our aerospace center and the jobs the
company will generate,” Mengert said.

The Piedmont Triad International Airport is owned, operated and managed by the Piedmont Triad
Airport Authority. The Airport Authority is governed by a board of directors representing three
cities, Greensboro, High Point, and Winston-Salem, and two counties, Forsyth, and Guilford. The
Airport, located at 1000 Ted Johnson Parkway, is the third busiest airport in North Carolina, and
the Center of North Carolina Aerospace.
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For more information visit www.firstinsupersonic.com.

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