After much speculation from community sources, a new job creating juggernaut has been confirmed to be coming to Cumberland County. 

American Titanium Metal, LLC, operating under the name “Project Aero” announced in late July that they will be building a manufacturing plant to produce aerospace-grade titanium domestically and investing $867.8 million in Fayetteville, NC. Project Aero addresses a substantial manufacturing supply chain need of the United States’ aerospace industry – namely, the availability of aerospace-grade titanium. 

Titanium can be combined with many other metals, such as aluminum, vanadium and iron. Titanium alloys are valued by aircraft manufacturers, as well as across many industries due to their low density, high strength, corrosion resistance and ability to withstand extremes of temperature. The company’s project in Fayetteville will establish approximately a 500,000-square-foot facility and campus that is purpose-built to melt, roll and finish titanium.

“With 20 plus years at U.S. Steel and 13 years at Nucor Corporation, developing five greenfield steel mill projects, I am proud to lead the construction of such a mission-critical project,” said LeRoy Prichard, President of Capital Projects for Project Aero. 

In May 2024, the City of Fayetteville and Cumberland County approved incentive packages designed to support the project, provided the company achieves required performance benchmarks.

“We are thrilled that Project Aero has chosen Cumberland County for their new state-of-the-art facility, and we look forward to welcoming them to our community,” said County Chairman Glenn Adams. “When we, as the Board, consider which projects to recruit into our community, we are always mindful of the impact on our residents and the opportunities they will provide. We want everyone to know that Cumberland County is open for business and hope this will spur continued economic growth.”

According to the Economic Development Partnership of North Carolina (EDPNC), American Titanium Metal joins more than 450 aerospace manufacturing suppliers that have a presence in North Carolina, which is a top state for aerospace manufacturing attractiveness in the country.

“It has been a pleasure working with North Carolina’s Department of Commerce, the Fayetteville Cumberland Economic Development Corporation, Cumberland County, the City of Fayetteville, Fayetteville PWC and Piedmont Natural Gas,” said Teresa McBride, Chairman of the company. “Aerospace has continuously pushed the boundaries of human potential and plays a pivotal role in our nation's economic growth while bridging distances, transforming economies and securing our future.”

The new site is expected to create 304 jobs. The average salary for American Titanium Metal’s new positions will be $123,473, which exceeds Cumberland County’s average wage of $45,951 although wages will vary based on position. According to the North Carolina Department of Commerce, Project Aero will bring an annual payroll impact to the community of more than $37 million per year.

“This project highlights our potential in the aerospace and advanced manufacturing sectors, making Fayetteville poised for tremendous growth and increased prosperity,” said City of Fayetteville Mayor Mitch Colvin. “This historic investment will create several hundred high-paying jobs, with average salaries nearly double the national average and significantly higher than the average salary in North Carolina. We are excited to welcome this transformational project to Fayetteville and look forward to the future opportunities it will bring."

Project Aero’s project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state’s Economic Investment Committee on July 23. Over the course of the 12 year term of this grant, the project is estimated to grow the state’s economy by $1 billion.

Using a formula that takes into account the new tax revenues generated by the new jobs and the capital investment, the JDIG agreement authorizes the potential reimbursement to the company of up to $8,026,000, spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. 

The project's projected return on investment of public dollars is 102 percent, meaning for every dollar of potential cost, the state receives $2.02 in state revenue. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant’s reimbursement payments to a given company.

“We’re excited to welcome these new jobs and this significant capital investment into Cumberland,” said N.C. Senator Tom McInnis. “Project Aero’s decision to locate operations in our region shows people around the world that we’re the perfect location for tomorrow’s global industries.”

Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Department of Transportation, N.C. Commerce’s Divisions of Workforce Solutions and Rural Economic Development, Piedmont Natural Gas, the Fayetteville Public Works Commission (PWC), the City of Fayetteville, Cumberland County, and the Fayetteville Cumberland County Economic Development Corporation.