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

OLATHE, Kan., Feb. 2, 2024

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."