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'This is not the last of the big announcements' | Guilford County prepares for a major economic boost at PTI airport

The name of the company remains unannounced, but the expansion will create more than 1,700 jobs and pump hundreds of millions of dollars into the Triad's economy.

GUILFORD COUNTY, N.C. — Get ready for an economic boost. In two days, Guilford County Commissioners are expected to announce who will be setting up shop at Piedmont Triad International Airport.

The name of the company remains unannounced, but the expansion will create more than 1,700 jobs and pump hundreds of millions of dollars into the Triad's economy.

Before the announcement on Wednesday, Guilford County Commissioners and Greensboro City Council must discuss incentives. The county is considering tax breaks.

RELATED: Economic announcement expected Wednesday at PTI

The city plans to offer an incentive grant worth $1,500 per job. The company is expecting to bring just over 1,700 jobs.

The business plans to build a manufacturing facility at PTI and invest $500 million. The average salary for the new full-time positions will be $69,000 plus benefits, and the minimum pay per hour will be $15. 

Several local businesses nearby said they are excited about the growth.

"I really am excited to see some really good anchors coming here that are really good for the growth and development in this," Cindy Jones, the Nursery Manager at Stone Center Carolina-Greensboro, said. "It's just good for everybody."

RELATED: Guilford Co. Commissioners to hold public hearing on incentives to lure airplane manufacturer to PTI Airport

Greensboro Mayor Nancy Vaughan said they have been working on developments like this for years and that more could be on the way.

"This is not an overnight success. Both of those projects had been in the works for many years," Vaughn said. "From the city's perspective, we are committed to infrastructure, and water and sewer, and roads, and that's what we continue to do to get to the sites where they are now, and this is not the last of the big announcements. I think there may be another one on the horizon, but all of this has been deliberate work over a long period of time."

The company's name will be revealed on Wednesday at 2 p.m.