(CNSNews.com) -- Lockheed Martin is investing $142 million in its Camden, Arkansas facility, which will add 326 new jobs by 2024, according to a June 17 press release from the company.
Lockheed Martin plans to expand its facility to include two new production buildings that will support manufacturing long-range fires products and PAC-3 missile defense capabilities.
Currently, the company’s Camden buildings occupy a combined manufacturing and support function floor space that exceeds 1.9 million square feet spread out over more than 1,800 acres of land.
Approximately 650 employees work in the facility’s manufacturing and support buildings. The newly created jobs would growing the Camden facility workforce to more than 900 employees in the next few years.
The $142 million capital investment not only supports the new construction but also improves the existing facilities for production, new machinery, and equipment important to the defense of the United States and allies.
Frank St. John, the executive vice president of Lockheed Martin Missiles and Fire Control said, “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,” he said.
“Lockheed Martin is a leading technology firm with facilities and clients around the world,” said Gov. Asa Hutchinson (R). “Lockheed’s investment illustrates the fact that Arkansas continues to be a global player in the aero-defense industry.”