TITUSVILLE, Fla., July 12, 2016 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) plans to expand capabilities at its Astrotech Space Operations site in Titusville, Florida with the assistance of the North Brevard Economic Development Zone and the State of Florida. Future investments would help Lockheed Martin grow Astrotech Space Operations' capabilities and could add as many as 300 jobs to the site over the next four years.

The company evaluated a number of locations across the country that could handle additional work and selected Brevard County because it offers the best blend of talent and business opportunity for this project. Astrotech Space Operations offers payload processing services—like encapsulating and fueling a satellite for launch—for a range of customers. Under the planned expansion, its scope of work could potentially include production of aerospace components and subsystems. Lockheed Martin is evaluating options that are contingent on the completion of additional business case analyses, which are slated to occur in 2016 and 2017.

"We have sites across the country, but Brevard County offers a unique blend of skilled people and a growth-friendly business environment that make it a great fit for this project," said Tom Malko, vice president of Assembly, Test and Launch Operations at Lockheed Martin Space Systems. "Partnering with the community creates a win-win for Florida, for Lockheed Martin and for our customers."

The North Brevard County Economic Development Zone, Economic Development Commission (EDC) of Florida's Space Coast, Enterprise Florida and the City of Titusville all supported this planned expansion for the benefit of the local economy.

"Florida is home to one of the largest aerospace and aviation industries in the nation and we continue to grow," said Governor Rick Scott. "It's exciting that Lockheed Martin continues to expand in Florida, adding hundreds of jobs for our families. We will do all we can to make it easier for businesses like Lockheed Martin to succeed in Florida."

"The EDC worked closely with Enterprise Florida, the North Brevard Economic Development Zone and the City of Titusville to ensure a strategic business approach was demonstrated that resulted in the selection of Titusville," said Lynda Weatherman, president and CEO of the EDC of Florida's Space Coast. "This expansion builds upon a community known for its space legacy. Lockheed Martin's decision to invest in Titusville adds to the city's global recognition as a prime location for the next generation of space technology development."

A wholly-owned subsidiary of Lockheed Martin, Astrotech Space Operations has prepared over 300 payloads for launch since 1984. Astrotech Space Operations customers include NASA, other U.S. government agencies and commercial customers.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 125,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

Media Contact:
Mark Lewis, +1 408-742-3516, mark.e.lewis@lmco.com

For additional information, visit our website:
http://www.lockheedmartin.com

SOURCE Lockheed Martin