Mike Parker: flyExclusive increases investment at NCGTP

More good news is coming from the North Carolina Global TransPark. flyExclusive, the fifth-largest private jet charter service in the United States, is constructing a new 24,000 square-foot facility at the GTP. flyExclusive operates a point-to-point private jet service.

The announcement came during a ribbon-cutting for LGM Enterprises’ facility at the Global TransPark. flyExclusive is a subsidiary of LGM, as is Jetstream Aviation, which will operate the electrostatic paint and coating facility at the TransPark. 

The flyExclusive expansion will bring 200 new permanent positions and represents an additional $8 million private investment. This expansion comes on the heels of an earlier addition. In December 2018, LGM Enterprises announced plans to launch an aircraft painting and refurbishing company at the TransPark. This project created more than 145 jobs and provided average wages of more than $15,000 a year higher than the median wage for the region.

“This ribbon cutting and announcement of an additional investment are good news for the people of Lenoir County,” said John Rouse, executive director of the NC Global TransPark. “As GTP continues to attract new businesses in the aviation sector and see existing businesses grow, we are solidifying GTP’s position as a leader in the aviation industry.”

“We continue to be enthusiastic with the increasing footprint of flyExclusive, LLC.  Their investment and corporate partnership in our community play a vital role in the growth of Lenoir County and Eastern North Carolina,” said Senator Jim Perry.

Perhaps flyExclusive CEO Mike Guina best summed up the win-win situation this additional investment represents.

“Today’s ribbon-cutting of Jetstream Aviation’s new state-of-the-art paint facility, along with the construction of an additional hangar for interiors and maintenance, marks another major milestone in creating a fully integrated private aviation enterprise. We continue to invest in new capabilities that support our ability to exceed clients’ expectations for luxurious, safe, and reliable private jet experiences.

“These new MRO facilities will give us greater control over the consistency and quality of our aircraft as we continue to grow flyExclusive into one of the leading brands in private jet travel. We are appreciative of the collaboration and support of the North Carolina Department of Transportation – Division of Aviation, the North Carolina Global TransPark Economic Development Region, and Lenoir County Commissioners.”

Growth at the GTP is significant for Lenoir County. According to the North Carolina Department of Commerce, Lenoir County has a Tier 1 designation. Tier 1 means Lenoir County is one of the 40 most economically distressed counties in North Carolina.

The Tier structure the state uses for these designations assesses four key factors: 1) average unemployment rate, 2) median household income, 3) percentage growth in population, and 4) adjusted property tax base per capita. Each county is ranked in reverse based on these factors. The top county receives a score of 100, not 1.

According to the Commerce Department, Lenoir County’s median private-sector wages rank 18 from the bottom at $40,433. The median private-sector earning for North Carolina is $54,005. Lenoir County ranks 13 in per capita tax base and 17 in population growth, losing 1.12 percent of our population. The only shining light is the unemployment rate. Lenoir County ranks 88 in unemployment at 5.3 percent. Overall, Lenoir County is 23 among the 40 most-distressed counties, Commerce Department statistics show.

Investment, good jobs, and economic growth are the key elements to move Lenoir County from a Tier 1 county to Tier 2 – and eventually Tier 3 (least distressed). The GTP is increasingly the economic engine that is powering us upward.

Mike Parker is a columnist for the Neuse News. You can reach him at mparker16@gmail.com.