SUNNYVALE, Calif., Feb. 28, 2014 /PRNewswire/ -- Lockheed Martin's [NYSE: LMT] Space Systems Company was inducted into the Business Hall of Fame by the San Jose Silicon Valley Chamber of Commerce last night.  

"Lockheed Martin is proud to call Silicon Valley home for a number of our most innovative programs," said Douglas R. Graham, vice president of advanced programs for Lockheed Martin Space Systems and member of the chamber's board of directors, who accepted the award on behalf of Lockheed Martin at the chamber's annual membership dinner in Santa Clara, Calif. "The credit goes to our employees for taking aerospace and defense technology into the future and being role models in the community for tomorrow's engineers and leaders."

"Lockheed Martin remembers its roots in this community while continually advancing technology solutions for the most demanding missions on earth and in space," said Matthew Mahood, president and CEO of the chamber, who presented the award.

Lockheed Martin is one of 22 businesses that have been inducted into the Business Hall of Fame since 2011, when the San Jose Silicon Valley Chamber of Commerce established the award. The award recognizes businesses that have operated in the Silicon Valley region for more than 50 years and have made significant contributions to economic growth, civic growth and community well-being.

Lockheed Martin began operations in Santa Clara County in 1956, when the corporation moved its Missile Systems Division from Southern California to what was yet to become Silicon Valley. The corporation first established a temporary office in San Jose as construction moved forward in Sunnyvale and Palo Alto, and it opened a testing facility in Santa Cruz County the next year.

As Lockheed Martin grew in Northern California so did its need for ever-more powerful electronic components, helping to seed the emergence of Silicon Valley. Aided by a symbiotic relationship with its neighbors, the company has achieved breakthrough after breakthrough – from protecting our nation with the first ballistic missile designed for underwater launch to creating a deep window into the universe with the Hubble Space Telescope. Today, Lockheed Martin's Silicon Valley innovations help scientists monitor solar activity and track tornadoes, aid manufacturers with nano-technology materials, provide U.S. soldiers with secure communications and are preparing military forces to defend themselves with laser systems. 

Lockheed Martin Space Systems Company employs approximately 6,000 people at its Sunnyvale, Palo Alto and Santa Cruz facilities.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs approximately 115,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation's net sales for 2013 were $45.4 billion.

Media Contacts:

Lynn Fisher, 408-742-7606; lynn.m.fisher@lmco.com

Mark Lewis, 408-742-3516; mark.e.lewis@lmco.com

For more information: www.lockheedmartin.com

SOURCE Lockheed Martin