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 Economic Development News 
Friday, February 20 2015

Lockheed Martin executive Randy O'Neal and Gov. Robert Bentley listen at a ceremony marking an expansion at the company's Troy facility

Troy, AL -- Governor Robert Bentley today announced that Alabama has partnered with Lockheed Martin to add an additional 240 employees by 2020 at the company’s Pike County Operations facility in Troy.

“Lockheed Martin has been a strong employer in Pike County for 20 years, and today we celebrate the announcement of an enhanced partnership that will create a total of 240 additional jobs before 2020 for the hard-working families in Troy,” Governor Robert Bentley said.

An artist’s sketch of the Long-Range Strike Systems cruise missile annex under construction at Lockheed Martin's Pike County facility.An artist’s sketch of the Long-Range Strike Systems cruise missile annex under construction at Lockheed Martin’s Pike County facility.

“Job creation has always been my top priority and it is important to see existing companies retain and expand their workforce. Lockheed Martin’s commitment to Pike County is strong, and I look forward to a continued partnership with the company,” he added.

The planned $2.5 million state investment will contribute to Lockheed Martin infrastructure improvements that support continued employment base expansion. This incentives package is directly related to job-creation milestones.

“We have worked hard in Alabama to build a foundation that allows aerospace companies like Lockheed Martin to establish world-class facilities that are well-positioned for expansion opportunities,” Secretary Greg Canfield said. “Over the past 20 years, the company’s Troy missile facility has grown from 30 employees to around 325 today, and we look forward to seeing additional job creation in coming years.”

Lockheed Martin employs approximately 112,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

“Alabama is investing in Lockheed Martin and we are pleased to invest in the community in return,” Vice President of Production Operations Randy O’Neal said. “We have already spent over $15 million on capital improvements at the Troy facility under this agreement and will spend an additional $40 million by 2020. We project that Lockheed Martin and its Pike County Operations employees will have injected $500 million into the state economy between 2014 and 2017.”

An increase in U.S. and international orders for the Joint Air-to-Surface Standoff Missile and the Terminal High Altitude Area Defense missile has enabled Lockheed Martin to expand the Pike County factories where they are assembled.

Source: MadeinAlabama.com

Posted by: Nicole@ExpansionSolutionsMagazine.com AT 11:01 am   |  Permalink   |  Email

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