The Economic Development Coalition for Asheville-Buncombe County announced June 17 that GE Aviation is planning a major expansion of local operations, putting an end to months of speculation about a deal that had been known as “Project X.”

Bound by nondisclosure agreements required by the company, local government officials have been secretly negotiating economic incentive deals with the business for months.

Buncombe County agreed to spend $15.7 million on land acquisition and facility construction, and give the company an additional $2.68 million in cash grants.

The city of Asheville approved giving the GE Aviation $1.5 million in tax breaks.

In exchange, the company plans to invest $126 million into its local facilities and hire an additional 52 employees.

Final approval of the project is still pending state incentives, according to a press release from the office of Gov. Pat McCrory.

Here’s the full announcement from Economic Development Coalition for Asheville-Buncombe County: