Joby Selects Dayton, Ohio, Birthplace Of Aviation, For First Scaled Manufacturing Facility; Joby Plans To Invest Up To $500M, Creating Up To 2,000 Jobs
Portfolio Pulse from Benzinga Newsdesk
Joby Aviation, Inc. (NYSE:JOBY) plans to build its first scaled aircraft production facility in Dayton, Ohio, investing up to $500 million and creating up to 2,000 jobs. The facility will be capable of delivering up to 500 aircraft per year. The State of Ohio, JobsOhio and local political subdivisions have offered incentives and benefits of up to $325 million to support the development of the facility. Joby has also been invited by the U.S. Department of Energy to apply for financing under the Title XVII Loan Guarantee Program for clean energy projects.
September 18, 2023 | 12:51 pm
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Joby Aviation's announcement to build its first scaled aircraft production facility in Dayton, Ohio, could potentially boost its stock. The company's investment of up to $500 million and the creation of up to 2,000 jobs, along with the support from the State of Ohio and the U.S. Department of Energy, could positively impact the company's growth and profitability.
Joby Aviation's decision to build its first scaled aircraft production facility in Dayton, Ohio, represents a significant investment and expansion for the company. The support from the State of Ohio and the potential financing from the U.S. Department of Energy under the Title XVII Loan Guarantee Program for clean energy projects could provide significant financial backing for the project. This could potentially lead to increased growth and profitability for the company, which could positively impact its stock price in the short term.
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