OWEGO, N.Y. — Lockheed Martin Corp. (NYSE: LMT) has plans for a $51 million expansion project at its plant in Owego.
The project would involve the renovation of a building on the Owego campus to allow some manufacturing operations and for helicopter integration and supporting flight operations, per the Lockheed Martin application for a PILOT (payment in lieu of taxes) agreement, on the website of the Tioga County Industrial Development Agency. Open hangar space would be converted to temperature and humidity-controlled manufacturing space, the firm said in its application.
The company also needs new machinery and equipment for the production of aerospace and defense products.
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Jeff Brown, Lockheed Martin spokesperson, forwarded this statement to CNYBJ.
“As a result of last week’s unanimous vote by the Tioga County Industrial Development Agency (IDA) approving our PILOT request, Lockheed Martin’s Owego facility, which is the Corporation’s Machining Center of Excellence, intends to move forward with a manufacturing expansion and renovation project. This PILOT enables us to remain competitive and support critical national security missions for decades to come. We are grateful for our long-standing partnership with the Tioga County IDA and look forward to the opportunity to partner with them on this project,” Brown said.
The defense contractor, which is headquartered in Bethesda, Maryland, also operates a Syracuse–area plant.
