Lockheed to invest $50M in Orlando, hiring 500

By DefenseFOXBusiness

Lockheed Martin CEO: Small and medium businesses are most impacted by regulations

Lockheed Martin CEO Marillyn Hewson discusses the meeting with President Trump and participating in the regulatory reform group at the White House.

Defense contractor Lockheed Martin (NYSE:LMT) will invest more than $50 million at its Orlando, Fla., facility and create hundreds of new jobs.

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Governor Rick Scott, R-Fla., announced on Wednesday that the investment would create 500 new positions for American workers, boasting an average salary of $87,064.

Overall, Lockheed said it plans to hire 1,800 new employees over the course of the next two years.

Earlier this month, Lockheed Martin was awarded a $148 million contract to manufacture its F-35 fighter jets, which are produced at the Orlando plant.

Lockheed’s investment in its Florida plant comes at a time when businesses are making investment decisions based on recent changes to the U.S. tax code.

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“Lockheed Martin’s continued investment in Florida sends a strong message to aerospace and aviation business leaders that Florida is the most business-friendly state in the United States for aerospace and aviation companies,” Peter Antonacci, the CEO of Enterprise Florida Inc., said in a statement.

As previously reported by FOX Business, experts believe that the elimination of state and local tax (SALT) deductions may cause businesses to flee higher-tax states such as New York, New Jersey and California.

As of 2017, Florida was listed as one of the top five most-business-friendly states in the U.S., with New York, New Jersey and California listed as the three least business-friendly.

Lockheed Martin employs 100,000 across the globe.

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