Lockheed Martin announces $142M expansion of Arkansas plant

LITTLE ROCK, Ark. (AP) — Lockheed Martin says it is spending $142 million and hiring 326 new workers over the next few years as it expands its south Arkansas facility.

The Maryland-based company on Monday announced the expansion of its plant in Camden, about 85 miles (140 kilometers) southwest of Little Rock. The Camden facility currently employs about 700 workers.

The expansion will support new construction and improve existing facilities for products such as the Terminal High Altitude Area Defense, Army Tactical Missile System and others, plus new machinery and equipment. The company and Gov. Asa Hutchinson announced the expansion at the Paris Air Show.

State Economic Development officials say the company is receiving performance-based income tax credit and cash rebate for the expansion.