TROY, Ala. (WDNews) — A planned expansion of the Lockheed Martin plant in Troy is expected to bring 300 new jobs to Pike County, supported by a $1 million state grant for water infrastructure improvements.
According to Gov. Kay Ivey’s office, the aerospace and defense company plans to invest between $35 million and $50 million in the expansion, which will include at least one new facility.
The expansion will help Lockheed Martin increase its annual production of Terminal High Altitude Area Defense (THAAD) missile interceptors from 96 to 400 over the next seven years.
The Troy plant also produces Javelin missiles, Joint Air-to-Surface Standoff Missiles and air-to-ground missiles.
“This is a significant development for Troy and Pike County that will bring many good jobs and enhance economic opportunities in the area,” Gov. Ivey said. “I am pleased to award funds to this project, which will benefit area residents and support national defense objectives.”
The $1 million grant will fund construction of a water line needed to support the expansion. The project will also benefit the Rex Lumber and Universal Precast industrial facilities in Troy.
According to local leaders, the improvements are expected to provide better water service to approximately 900 nearby residents while addressing existing limitations in the water system.
Officials say the upgraded infrastructure will also help prepare the area for future industrial growth.
The Alabama Department of Economic and Community Affairs (ADECA) will administer the Community Development Block Grant using funds provided by the U.S. Department of Housing and Urban Development.
“This development will improve regional manufacturing capacity and generate new economic opportunities for area residents,” ADECA Director Kenneth Boswell said. “ADECA is pleased to partner with Gov. Ivey and Pike County in support of this substantial project.”
Gov. Ivey notified Pike County Commission Chairman Chad Copeland that the grant had been approved.
The Pike County Commission will contribute an additional $755,000 in local matching funds, bringing the total public funding for the water infrastructure project to $1.755 million.
The expansion represents a planned investment in Pike County’s manufacturing industry, with hundreds of new jobs expected as Lockheed Martin increases production at its Troy facility.
