Project to generate millions in tax revenue
for state and local economy, create 156 new jobs at the high-tech
manufacturing site
OLATHE,
Kan., Feb. 2, 2024 /PRNewswire/
-- Honeywell (NASDAQ: HON) announced today it will
invest $84 million to expand its
Olathe manufacturing facility in
Kansas. The project, which is
expected to generate nearly $47
million in total gross domestic product (GDP) and contribute
$18.3 million to state and local
taxes in the first six years, supports the company's alignment with
the compelling megatrend of the future of aviation.
Annual operations of the newly expanded facility will create
ongoing economic benefits that include directly employing an
additional 156 workers at the facility and supporting more than 200
jobs in other sectors of the Kansas economy. Additionally, the Olathe manufacturing facility will create
economic benefits during the construction period and subsequent
operations of the expanded facility. The construction and
installation of new equipment in the facility will create
temporary, one-time economic benefits that include 268 one-year
jobs supported in Kansas and
generating nearly $25 million in
GDP.
"Expanding this facility will enable the development of a strong
and resilient domestic supply chain for next generation avionics
and printed circuit board assemblies that our commercial and
military customers can rely on," said Jim
Currier, president and CEO, Honeywell Aerospace
Technologies. "At Honeywell, we are in constant need of highly
skilled employees, particularly in engineering and advanced
manufacturing, and our decision to expand one of our U.S.-based
facilities is a testament to our confidence in the U.S. economy and
its talented workforce."
This expansion will create one of Honeywell's most
technologically advanced aerospace manufacturing facilities. The
560,000-square-foot facility currently manufactures components for
Honeywell's avionics, safety and flight control systems and complex
radio frequency systems for traffic collision avoidance, radar
altimeters, and weather radar.
"Honeywell's expanded presence in Kansas underscores what we've known all along
our state's workforce is prepared to meet any challenge," said
Governor Laura Kelly. "The high-tech
jobs and opportunities being created will allow even more of our
young workers to find their dream careers right here in
Kansas."
"Honeywell's expansion is a perfect example of the Kelly-Toland
Administration's vision for further developing our state's
aerospace and advanced manufacturing sectors," said Lieutenant
Governor and Secretary of Commerce David
Toland. "Honeywell's superior products and technologies are
shaping the future of aviation, while also invigorating the
regional and state economies."
"The hard-working men and women of Kansas have earned a reputation within the
aviation manufacturing community for quality work, and today's
announcement is further evidence of that," said U.S. Sen.
Jerry Moran. (R-Kan.) "Honeywell's
decision to expand its operations in Kansas will help bolster the U.S. domestic
industrial base in the aviation sector."
About Honeywell
Products and services from Honeywell Aerospace Technologies are
found on virtually every commercial, defense and space aircraft.
The Aerospace Technologies business unit builds aircraft engines,
cockpit and cabin electronics, wireless connectivity systems,
mechanical components and more. Its hardware and software solutions
create more fuel-efficient aircraft, more direct and on-time
flights and safer skies and airports. For more information,
visit www.honeywell.com/us/en or follow us
at @Honeywell_Aero.
Honeywell is an integrated operating company serving a broad
range of industries and geographies around the world. Our business
is aligned with three powerful megatrends – automation,
the future of aviation and energy transition – underpinned
by our Honeywell Accelerator operating system and
Honeywell Connected Enterprise integrated software
platform. As a trusted partner, we help organizations solve
the world's toughest, most complex challenges, providing actionable
solutions and innovations through our Aerospace Technologies,
Industrial Automation, Building Automation and Energy and
Sustainability Solutions business segments that help make the world
smarter, safer and more sustainable. For more news and information
on Honeywell, please visit www.honeywell.com/newsroom.
Contacts:
Media
Ahjay Rai
(980) 384-5662
ahjay.rai@honeywell.com
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SOURCE Honeywell Aerospace