Lockheed seeking 107M incentive award EDA agenda draft

Global security and defense firm Lockheed Martin has a Camden-based project in the works that is seeking a 10-year, $107 million Grow New Jersey incentive award, according to a draft copy of the agenda for Tuesday’s Economic Development Authority board meeting.EDA spokeswoman Virginia Pellerin said Monday that the agenda, posted on the agency’s website in advance of Tuesday’s meeting, may be subject to change. Pellerin offered no additional comment about Lockheed Martin or any other project featured on the agenda.

Lockheed Martin did not immediately return a request for comment Monday.

While no other details regarding the project have yet been made available, the firm, which has locations in Moorestown and Cherry Hill, has previously been successful in garnering EDA support. In 2012, Lockheed Martin was approved for a $40 million Grow New Jersey award on condition that it secure a contract with the U.S. Navy to provide engineering services to ships fitted with the Aegis combat system. The company was later successful in doing so, receiving a five-year, $100 million contract from the Navy last year.

The incentive would follow two other high-profile awards to Camden projects this year.

The EDA in July awarded Holtec International, a maker of equipment and supplies for the energy industry, a 10-year, $260 million tax credit to build a 600,000-square-foot manufacturing and design center in the city.

A month earlier, the Philadelphia 76ers accepted a 10-year, $82 million tax credit from the state to build a new practice facility and team headquarters in Camden.

Also on Tuesday’s draft agenda is a West Windsor-based project for BlackRock, a global investment management firm that relocated a regional office there from nearby Plainsboro in 2010, despite flirting with the idea of moving it to Philadelphia. The project is seeking a 10-year, $12.1 million Grow New Jersey award.

A BlackRock representative did not immediately return an emailed request for comment.

Tuesday’s meeting will begin at 10 a.m. in the EDA’s boardroom in Trenton.

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