Archer Aviation Granted $117M Award For Ramp Of Its Electric Powertrain Facility By California's Alternative Energy And Advanced Transportation Financing Authority
$ACHR
Aerospace
Industrials
- On Tuesday, July 16, 2024, the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) approved an award involving sales and use tax exclusion incentives related to Archer's planned advanced manufacturing project in the State of California
- This award, which is believed to be CAEATFA's largest to date in the advanced air mobility industry, will support Archer's planned expansion of its state-of-the-art electric powertrain and aircraft production facilities intended to support its commercialization
- Archer was selected after a highly competitive application process that looked closely at the project's impact on the environment, its ability to create jobs and stimulate economic activity, and its categorization as a strategic emerging industry