TRENTON, NJ—The state's Economic DevelopmentAuthority approved an incentive package totaling $107million for Lockheed Martin's proposed project inCamden.

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The 10-year Grow New Jersey incentive award isfor the defense contractor to develop two laboratory facilities atthe existing L-3 Communications building, according toNJBiz.com.

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Lockheed will invest $146.3 million for the Camden project,which will involve the relocation of 250 New Jersey-based jobs tothe site from its Moorestown location.

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Keith Little, senior manager for mediarelations and public affairs for Lockheed, says the company willlook to begin operations at the newly leased facility in 2015.

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“This exciting opportunity will allow us to capitalize on ourcore technologies and bring new solutions to our customers,” Littlestates. “We are proud of our strong presence in New Jersey and lookforward to contributing to the Camden community.”

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The Economic Development Authority approved nearly $131 millionin incentives at its meeting on Monday. See story atNJBiz.com.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.