American Titanium Metal LLC will construct a $1B titanium mill in Fayetteville NC called Project Aero. It is expected to be located on a 200-acre site near the Goodyear Tire & Rubber Co. plant and will create 450 high-paying jobs with an average salary of $120,000 over the next 20 years. The plant aims to be environmentally friendly, utilizing titanium remnants and producing minimal waste.
Project Aero will make high grade titanium and allows that serve the aerospace industry.
The city and county have approved significant incentives and will also invest in necessary infrastructure, such as water and sewer systems, and provide up to 120 acres of land for the project. This development is anticipated to bring substantial economic benefits, including an $895 million investment in its first phase and an additional $300 million in the second phase, along with the creation of over 300 jobs in the initial phase and 100 more in the future.
The jobs created are expected to average $120,000/year, while the median household income for Fayetteville in 2022 was $53,400.
Fayetteville has 74,600 people employed as of May 2024. The number of jobs expected to be created is 400, which represents an increase of 0.5% for Fayetteville.
External Resources
- WRAL video
- Fayetteville Observer: Fayetteville chosen for nearly $1 billion titanium plant. Here’s what we know.
- Cumberland County: U.S. Titanium Company to Invest $867 Million in Cumberland County
Doug has held income properties in North Carolina for more than 20 years. He holds a North Carolina broker’s license, and is a member of the National Association of Realtors and the Triangle Real Estate Investors Association. A lifelong learner, he holds an MBA and a PhD in business, and continues his education by attending meetings of the Society of Exchange Counselors and the National Counsel of Exchangors. In addition to his extensive real estate activities, Doug enjoyed a successful career in academia, achieving the rank of Full Professor in the Cameron School of Business at UNC Wilmington. He was honored with research and teaching awards, served as Director of the MS Computer Science and Information Systems program, and was awarded the endowed position Distinguished Professor of Information Systems.
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