Joby Aviation has revealed plans to invest up to $500 million in the construction of its first large-scale production facility in Dayton, Ohio. The company, known for its work on electric vertical take-off and landing aircrafts (eVTOLs), intends to commence construction on the plant next year, with an expected completion date in 2025.
To kickstart operations in the meantime, Joby plans to utilize nearby existing buildings. Located in close proximity to Dayton International Airport, the facility will have the capacity to manufacture up to 500 aircrafts annually and is projected to generate as many as 2,000 jobs.
Aiding the development of this facility, the state of Ohio, JobsOhio, and local political subdivisions have offered incentives and benefits totaling up to $325 million. In addition, Joby has received an invitation from the U.S. Department of Energy to submit a Part II Application for financing under the Title XVII Loan Guarantee Program. This program provides access to low-interest loans specifically tailored for clean energy projects, thus assisting Joby in scaling up its production facility.