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Lockheed Martin Investing $26M in Lexington, Kentucky, Facility

Lockheed Martin is investing $26 million in its Bluegrass Station facility in Lexington, Kentucky. The aerospace company will create 224 jobs as part of the expansion. Lockheed recently received a major contract for Logistics Support Services, which is driving the growth.

"This investment will improve the existing equipment, tools, and facility infrastructure, as well the overall efficiency and quality of work to position us as a world-class sustainment operation within the commonwealth of Kentucky," said Howard Yellen, Lockheed Martin vice president. "Our joint vision is to develop the existing work force while making strategic investments in equipment and infrastructure for the long-term growth into a Sustainment Center of Excellence."

The Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved Lockheed Martin Corporation for tax incentives up to $15 million through the Kentucky Business Investment program. KEDFA also approved the company for tax benefits up to $415,000 through the Kentucky Enterprise Initiative Act (KEIA).

Lockheed also has Kentucky facilities in Fort Campbell and its Blue Grass Army Depot in Richmond. The company will make improvements to other in-state facilities as part of the project.

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