Gulfstream Aerospace Corporation announced on Monday plans to expand it's Savannah, GA. facilities over the next 7 years. The plan, valued at over $500-million is slated by Gulfstream as ensuring 'the company is well-positioned to meet future demand for business-jet aircraft and support services' as noted in the press release.
In addition to the announced facility expansion, Gulfstream also expects to create an additional 1,000 jobs in addition to their current Savannah employment level of 5,500. The positions being created will include engineers, production specialists and support technicians. If is unknown if any of new positions are planned at their other locations, especially the midwest facility in Appleton, WI. or Gulfstream offices in Oak Brook, IL.
According to Joe Lombardo, president, Gulfstream, 'With our own sales trends and market forecasts suggesting an upturn over the next decade, we want to ensure Gulfstream is well-positioned to meet demand...' Lombardo went on to say that 'We are already beginning to see signs of a modest recovery.' In 3Q of 2010, Gulfstream reporting booking more orders than in any quarter since the middle of 2008.
The facility expansion will include new buildings located at Savannah/Hilton Head International Airport (KSAV), renovation of old buildings as well as work within the Crossroads Business Park.
Georgia Governor, Sonny Perdue, said 'The expansion of Gulfstream's facilities will have a major impact on both the state and local economies by creating 1,000 new full-time jobs, not to mention the ripple effects in terms of construction and services workers, as well.'
This newest expansion follows on the heels of a $400-million expansion that was completed in 2009 which resulted in the Gulfstream facilities creating the world's largest general aviation aircraft maintenance facility. That expansion also resulted in the hiring of 1,100 new employees.
To read the entire press release, it can be found here.
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