FOR IMMEDIATE RELEASE
Gov. Hutchinson on the Passage of the Proposed Lockheed Martin Super Project; Details Bill Signing
LITTLE ROCK – Passing with broad, bipartisan support from both chambers, the proposed Amendment 82 Lockheed Martin super project in south Arkansas (HB 1003 and SB 6) will head to Governor Asa Hutchinson’s desk for his signature. If Lockheed Martin is awarded the contract to produce the new Joint Light Tactical Vehicle for the Department of Defense, this project would create, over time, almost 600 new jobs at the Highland Industrial Park in East Camden while securing more than 1,100 jobs for the life of the project. (See below for “Quick Facts.”)
Governor Hutchinson released the following statement upon final passage:
“This is an important next step in our attempt to help Lockheed Martin secure a federal Defense contract and create hundreds of new jobs in South Arkansas. The state of Arkansas is doing its part by overwhelmingly passing the Amendment 82 legislation. We are on board with bipartisan support. I’ve called this a golden opportunity for Arkansas, and it is not just for us to expand our economy but to contribute to our nation’s defense.”
The bill signing and news conference will take place tomorrow morning. Details are as follows.
Lockheed Martin Super Project
News Conference & Bill Signing
Friday, May 29, 2015
Governor’s Conference Room
Arkansas State Capitol
Little Rock, AR
Approved by voters in 2004, Amendment 82 allows the state to issue bonds to finance infrastructure and other needs in order to attract major projects to the state of Arkansas.
- Lockheed Martin is one of three companies currently competing for a contract from the U.S. Department of Defense to produce approximately 54,600 Joint Light Tactical Vehicles (JLTV) between 2016 and 2040. A decision is expected from the Pentagon in August 2015.
- Should Lockheed Martin be chosen, the company will assemble the JLTVs at a facility in the Highland Industrial Park in Calhoun County.
- The State of Arkansas’s Amendment 82 package would provide $84.645 million in infrastructure improvement and job training to Lockheed Martin for the JLTV project, paid for by proceeds from a bond issue.
- Employment at the JLTV facility would increase over time from 100 new jobs in 2016 to 589 total new jobs created by 2025, where it will remain through 2040.
- Lockheed Martin currently employs 556 people at its existing facility in the Highland Industrial Park.
- As part of the Amendment 82 agreement, Lockheed Martin has committed to maintaining its current employment of 556 jobs for 25 years.
- The total capital investment for the proposed JLTV facility is $147.3 million.