Later this year, Lockheed Martin is set to relocate its Vertical Launching Systems production from Baltimore to Moorestown as part of an expansion that will add nearly 400 jobs to the state in the next two years.
Lockheed officials said the transition of VLS production will include more than $10 million in investments in new production facilities and tooling, and will add 250 jobs by 2023.
Other program expansions will result in another 150 jobs added to the Moorestown facility over the same period. The jobs will mainly include high-paying engineering positions.
Gov. Phil Murphy, who has pushed for more innovation since taking office, thanked Lockheed during a visit Tuesday morning.
“Lockheed Martin is one of the giants in the defense contracting industry, and New Jersey is proud to call them a valued partner,” he said. “The relocation of these high-paying engineering jobs to New Jersey is a testament to all that our state has to offer.”
Lockheed currently employs more than 4,500 people at the Moorestown facility and surrounding area. Since 2012, Lockheed has made a total investment in New Jersey of $365 million, including the establishment of a state-of-the-art Solid State Radar Integration Site and the addition of a 47,000-square-foot Advanced Product Development Center in Camden.
Stephanie Hill, executive vice president, Lockheed Martin Rotary and Mission Systems, said the company is committed to the state.
“Lockheed Martin has a proud history across the state of New Jersey — and that history will continue as we look to the future,” she said. “We’re committed to growing our economic impact through the expansion of our Moorestown operations and the continued investment in high-technology jobs that support vital national security programs.”