Lockheed Martin To Invest $142M In Arkansas Expansion

The security and aerospace company will create 326 new jobs with the expansion of its center of excellence in Camden, AR.


https://businessfacilities.com/2019/06/lockheed-martin-invest-142m-arkansas-expansion/
The security and aerospace company will create 326 new jobs with the expansion of its center of excellence in Camden, AR.
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Lockheed Martin To Invest $142M In Arkansas Expansion

The security and aerospace company will create 326 new jobs with the expansion of its center of excellence in Camden, AR.

Lockheed Martin To Invest $142M In Arkansas Expansion

Lockheed Martin announced at the recent Paris Air Show that it will expand its center of excellence in Camden, AR. The Maryland-based security and aerospace company plans to invest $142 million and hire 326 new employees at the facility over the next few years. Lockheed Martin currently employs approximately 700 workers in Camden, where it produces the High Mobility Artillery Rocket System (HIMARS) and performs final assembly for Integrated Air and Missile Defense (IAMD) and Precision Fires products for U.S. and allied military services.

Lockheed Martin
Arkansas Governor Asa Hutchinson (left) and Frank St. John, executive vice president of Lockheed Martin Missiles and Fire Control at the 2019 Paris Air Show.

“Our facility in Camden is a highly efficient, high quality center of excellence that contributes components and performs final assembly for products that are important to the defense of the United States and a growing number of allied nations,” said Frank St. John, executive vice president of Lockheed Martin Missiles and Fire Control. “The facility has a long record of precision manufacturing and on-time deliveries, which is the reason we continue to invest in and expand our Camden Operations. This expansion will help ensure the availability, affordability and quality of systems we build for our customers around the world.”

The expansion will support new construction and improve existing facilities for products like Terminal High Altitude Area Defense (THAAD), Army Tactical Missile System (ATacMS), Patriot Advanced Capability-3 (PAC-3) and others, plus new machinery and equipment. Previously the facility was dedicated to HIMARS production only.

Lockheed Martin
Lockheed Martin will expand its Camden, AR facility to include two new production buildings which will support manufacturing long range fires and PAC-3 missile defense capabilities, plus expanding current facilities, and hire more than 300 new people (artist rendering).

“Lockheed Martin is a leading technology firm with facilities and clients around the world,” said Governor Asa Hutchinson. “Lockheed’s investment illustrates the fact that Arkansas continues to be a global player in the aero-defense industry.”

The private aerospace and defense industry employs about 10,000 Arkansans and was the state’s largest export in 2018, totaling $1.8 billion. The state is home to nearly 180 companies in the industry, which is part of why the governor, industry partners and Arkansas Economic Development Commission (AEDC) participate in the annual trade shows in Paris and London, said Mike Preston, currently AEDC executive director and Secretary of Commerce effective July 1.

“The high-paying jobs Lockheed Martin provides in the Camden area improve the quality of life for our communities and the state as a whole,” said James Lee Silliman, Ouachita Partnership for Economic Development executive director, “and we’re thankful for their partnership in the Golden Triangle.”

Relocating or Expanding Your Business In Arkansas

Considering Arkansas for your company’s relocation or expansion project? Check out Business Facilities’ Arkansas Incentives and Workforce Development Guide.

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