GDEcD-Assisted Project Receives Corporate Investment Award
ATLANTA, March 10, 2011—The Georgia Department of Economic Development announced today that Gulfstream Aerospace Corporation is among the winners of the 2011 Corporate Investment & Community Impact (CiCi) Awards, presented by Trade & Industry Development magazine, an influential economic development publication. Trade & Industry Development magazine's sixth annual CiCi Awards recognize the largest corporate investment projects in the U.S., as well as those projects that make a significant impact on local communities. Gulfstream Aerospace was among only 15 finalists in the award's Corporate Investment category.
'As a longtime member of Georgia's aerospace community, Gulfstream Aerospace makes it possible for Georgia to broaden its leadership in aerospace and aviation,' said Chris Cummiskey, commissioner of the Georgia Department of Economic Development. 'This award celebrates the company's commitment to the aerospace industry, and to expanding its presence in Georgia.'
Gulfstream's most recent expansion project was announced in November 2010, detailing the addition of more than 1,000 jobs and at least a $500 million corporate investment in Savannah. Gulfstream is expanding its Savannah operation to facilities at the Savannah-Hilton Head International Airport and will renovate several existing facilities on its main campus. The company will also expand its offices and laboratories at the Gulfstream Research and Development Center in Crossroads Business Park.
This will be the Georgia-based company's second major expansion in the last five years, following the 2009 completion of a $300 million expansion Gulfstream announced in 2006, which created 1,100 new jobs in Savannah. New jobs resulting from this most recent expansion are full-time positions including production specialists, engineers, and support technicians.
The Georgia Department of Economic Development partnered with the Savannah Economic Development Authority (SEDA), Chatham County and the City of Savannah to assist Gulfstream Aerospace with this expansion project.
About Gulfstream Aerospace Corporation and General Dynamics Gulfstream Aerospace Corporation, a wholly owned subsidiary of General Dynamics (NYSE: GD), designs, develops, manufactures, markets, services and supports the world's most technologically advanced business-jet aircraft. Gulfstream has produced some 1,900 aircraft for customers around the world since 1958. To meet the diverse transportation needs of the future, Gulfstream offers a comprehensive fleet of aircraft, comprising the wide-cabin, high-speed Gulfstream G150®; the large-cabin, mid-range Gulfstream G200®; the new large-cabin, mid-range Gulfstream G250®; the large-cabin, mid-range Gulfstream G350®; the large-cabin, long-range G450®; the large-cabin, ultra-long-range Gulfstream G500®; the large-cabin, ultra-long-range Gulfstream G550® and the ultra-large-cabin, ultra-long-range G650®. Gulfstream also offers aircraft ownership services via Gulfstream Pre-Owned Aircraft Sales®. The company employs more than 9,000 people at seven major locations. We invite you to visit our website for more information and photos of Gulfstream aircraft at www.gulfstream.com.
General Dynamics, headquartered in Falls Church, Va., employs approximately 90,000 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about General Dynamics is available online at www.gd.com.
About Georgia's Aerospace Industry Georgia ranks 8th among U.S. states for aviation industry employment, with over 80,000 employees in more than 500 operations. The state's total aviation exports worldwide topped $3.4 billion in 2009, ranking the state as the eighth-highest U.S. state in this sector. Georgia is also the most productive aerospace state in the U.S.: costs for infrastructure like land, utilities and wages are low but yield highly valuable aerospace products. For each aerospace worker employed in the state, an average of $135,437 in wealth is created. Aerospace was identified by the Commission for a New Georgia in 2003 as an industry sector whose resources and existing strengths makes it a sector to target for strategic growth in the state.