HONEYWELL TO INVEST $84 MILLION IN EXPANSION OF KANSAS AEROSPACE MANUFACTURING FACILITY

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.

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Ahjay Rai
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SOURCE Honeywell Aerospace