Lockheed Martin has pitched a $51 million dollar PILOT project to the Tioga County Industrial Development Agency.
According to the Morning Times, the IDA performed a cost analsyis on the payment-in-lieu-of tax proposal to renovated and modernize roughly 70,000 square feet of an existing section of the Lockheed Martin Owego campus.
The renovated space would reportedly be used for helicopter integration supporting flight operations.
Lockheed Martin is requesting a 20-year exemption with zero-dollar payments during that time. The property tax exemption is estimated at $87 million.
A public hearing is set for noon on Tuesday at the county office building.
