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Thousands of jobs could be coming to Greensboro. What comes next and how soon | Dig In 2 It

Two major economic developments could each bring more than 1700 new jobs to the Triad.

GREENSBORO, N.C. — The Triad is close to bringing more than 3500 new jobs to the area. Economic developments at the Greensboro-Randolph Megasite and Piedmont Triad International Airport are close to approval.

For years, business leaders have tried to lure a company to the Greensboro-Randolph Megasite. It's the 1,800-acre piece of land on the county border.

Commissioners will hold a public hearing on December 6 to discuss incentives. Documents show they're trying to court an unnamed company that would bring a $1 billion investment and 1,700 jobs. It says the company could even expand the project to $3 billion and nearly 4,000 jobs.

The General Assembly passed a bill yesterday that could create thousands of jobs for an economic development project at P.T.I It allocates more than $100 million for airport improvements.

The projects could have a huge impact on the Triad. The Economic Policy Institute says for every 100 manufacturing jobs, about 740 other jobs get created indirectly. In total, the two projects could create about 30,000 jobs.

Both development plans use lots of taxpayer money. Todd McFall, an assistant professor of economics at Wake Forest University, said he's skeptical about the projects.

"The amount of tax revenue that would be lost from these incentives needs to be made up from income taxes and sales taxes that would come from the jobs that would be created," McFall said.

He said that doesn't always happen. However, he said it's important to keep in mind the other benefits the projects can bring. 

"When jobs are created, communities have a little bit more stability in them," McFall said. "People have more opportunities for work. There might be some wage increases that come out of this."

Both plans still need to be finalized. We will keep you updated as this story develops.

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