300 new jobs will come to Lockheed Martin in Owego, but 40 jobs will be eliminated from the site by the end of 2011.
The company announced some restructuring Thursday. Lockheed will move all manufacturing work from their Middle River, MD site by the end of next year and close their plant in Eagan, MN by 2013. 300 of the positions from those two sites will be moved to Owego, according to company spokesman Jeff Brown.
In addition, the company’s Joint Light Tactical Vehicle program, currently based in Owego, will move to Dallas next year. Brown says the move will eliminate around 40 jobs locally, but those employees will be offered a chance to transfer with the program.
Lockheed Martin says the changes will save approximately $150 million over the next 10 years.
