Amazon-Backed Electric Plane Maker Beta Technologies to Expand in New York

Amazon.Com Inc AMZN-backed Beta Technologies, an electric aerospace company, is gearing up for an expansion in upstate New York. 

The company will partner with Clinton County to enhance its facility at Plattsburgh International Airport with a $41 million investment, as announced by Governor Kathy Hochul. 

The development is part of the broader push to reduce the transportation sector's carbon footprint, a significant contributor to U.S. gas emissions, Bloomberg reports.

The expansion, which aligns with New York's commitment to investing $1 billion in zero-emission vehicles over the next five years, will see Beta Technologies creating 85 new full-time jobs. 

The state will support growth through a $20 million grant from the Empire State Development's Regional Economic and Community Assistance Program.

This project aims to establish a manufacturing and final assembly hub for Beta's all-electric aircraft and a center for final flight testing, painting, and customer delivery. 

Beta has been developing and testing its electric aircraft at this location since 2017, and it marks a significant step in the race to create environmentally friendly electric airplanes. 

The company's recent achievement includes a 1,730-mile flight from Vermont to Florida, delivering its first product to the U.S. Air Force. Governor Hochul lauded this expansion as a catalyst for New York's economic innovation in the 21st Century.

The hybrid aircraft market will likely grow from $1.2 billion in 2023 to $13.2 billion by 2030, at a CAGR of 41.6% from 2023 to 2030.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.