Israel-based Defense Contractor, ELTA, Opens North American Production Complex In Maryland
According to The Maryland-Israel Development Center, ELTA North America leased its 7,500-square foot complex in Howard County's growing Maple Lawn area, with plans to expand to 25,000 square feet as the company increases its manufacturing and hires additional employees. Information on the company's total investment was not immediately available.
As an incentive to assist with the project, the Maryland Department of Business and Economic Development approved a $300,000 conditional loan through the Maryland Economic Development Assistance Fund, and Howard County is offering a property tax credit.
Governor Martin O'Malley said "Our strategic location accessible to many U.S. and foreign markets coupled one of the most highly-educated workforces in the country will be a tremendous benefit to the company as they look to grow their U.S. customer base. I want to thank the Maryland/Israel Development Center for helping bring this project to Maryland."
"In choosing Maryland, ELTA recognizes that we offer the right combination of a highly-educated workforce in technology and engineering, remain on the cutting edge of science and discovery, and provide easy access to key decision makers in the defense and homeland security community," O'Malley said. "We are pleased that ELTA will invest in Maryland, a reflection of our State's support for our growing high-tech industry, and affirmation that we are a leader in the nation's innovation economy."
ELTA North America president and CEO David Machuga said, "We believe that leveraging the high-tech talent pool provided by the region coupled with the globally proven ELTA technology is a win-win for the customers of ELTA North America. It was clear from the beginning that the leadership in Maryland at all levels is focused on economic growth and high-tech jobs. This has allowed us to move quickly to the region and begin hiring."
Nissim Hadas, IAI vice president, president and CEO of ELTA Systems Ltd. and chairman of the board of ELTA North America added, "IAI and ELTA are embarking on a new strategy to synergize the efforts of ELTA Systems Ltd. and ELTA North America to provide field proven solutions and premier electronic system-of- system capabilities and support for the discriminating requirements and needs of our U.S. customers."
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