(UPDATE) Lockheed Incentive Request Is Delayed
[Update 12:08 p.m.] The Economic Development Authority has delayed action on Lockheed’s request.
“The Lockheed Martin project will not be advancing to the board meeting for this month,” Erin Gold, an authority spokeswoman, said before Tuesday’s meeting. “As is sometimes the case with projects the EDA board is set to consider, additional materials are needed to move forward.”
International Business Times notes the postponement came “just hours” after it published a report that a Lockheed-affiliated PAC had contributed $50,000 to the Republican Governors Association, which is run by Christie.
[Original] Defense contractor Lockheed Martin is eyeing Camden as the location of its next facility, but wants $107 million in state incentives to do so.
Global security and defense firm Lockheed Martin has a Camden-based project in the works that is seeking a 10-year, $107 million Grow New Jersey incentive award, according to a draft copy of the agenda for Tuesday’s Economic Development Authority board meeting.
While no other details regarding the project have yet been made available, the firm, which has locations in Moorestown and Cherry Hill, has previously been successful in garnering EDA support. In 2012, Lockheed Martin was approved for a $40 million Grow New Jersey award on condition that it secure a contract with the U.S. Navy to provide engineering services to ships fitted with the Aegis combat system. The company was later successful in doing so, receiving a five-year, $100 million contract from the Navy last year.
Philly.com added: “Keith Little, public relations manager for Lockheed Martin, also would not release details, saying in an e-mail only that ‘we’re committed to maintaining a strong presence in New Jersey and look forward to continuing our work with the EDA.'”
The EDA has already granted major incentives for two Camden projects this year: $260 million to energy company Holtec Internetational and $82 million to the 76ers to locate their practice facilities across the river.