Lockheed Martin Announces $142 Million Expansion of AR Plant
CAMDEN, AR—Lockheed Martin says it is spending $142 million and hiring 326 new workers over the next few years as it expands its south Arkansas facility. The company recently announced the expansion of its plant here, which currently employs about 700 workers.
The expansion will support new construction and improve existing facilities for products such as the Terminal High Altitude Area Defense, Army Tactical Missile System and others, plus new machinery and equipment. The company and Governor Asa Hutchinson announced the expansion at the Paris Air Show.
Arkansas State Economic Development officials say the company is receiving a performance-based income tax credit and cash rebate for the expansion.