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Florida“™s Brevard County Commission OKs Revised $1.75M Incentive Package for Lockheed

Florida“™s Brevard County Commission OKs Revised $1.75M Incentive Package for Lockheed - top government contractors - best government contracting event
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Florida“™s Brevard County Commission OKs Revised $1.75M Incentive Package for Lockheed - top government contractors - best government contracting eventBrevard County commissioners in Florida on Tuesday approved the changes to a potential $1.75 million incentive package for Lockheed Martin in exchange for the creation of up to 300 jobs, Florida Today reported Tuesday.

Dave Berman writes three county commissioners cleared the revised incentive deal between Lockheed and the North Brevard Economic Development Zone, while commissioner Kristine Isnardi opposed the package.

Under the revised package, Lockheed“™s space systems division would receive a $250,000 bonus once it added 250 jobs to Titusville, Florida, by Dec. 31, 2019 and $3,500 each for the creation of the first 50 positions or a minimum of 25 jobs by the end of 2018 at a former Astrotech facility.

Lockheed acquired the facility after the company completed its purchase of Astrotech“™s space operations business in 2014 that works to provide preparation services for satellite launches.

The Brevard County Commission also approved a separate package in July 2015 that would provide $3.49 million in property tax breaks to Lockheed over nine years in return for the creation of over 50 jobs by the end of 2017 and capital investment worth $80 million, Berman reports.

Lockheed said the jobs to be created would include engineering services roles and aerospace parts manufacturing positions, the report added.

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Written by Jane Edwards

is a staff writer at Executive Mosaic, where she writes for ExecutiveBiz about IT modernization, cybersecurity, space procurement and industry leaders’ perspectives on government technology trends.

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