Lockheed Martin (NYSE: LMT) has inaugurated a new facility in Titusville, Fla., that will accommodate the development and construction of ballistic missile systems.
Lockheed said Tuesday the relocation of the Fleet Ballistic Missile headquarters from California will help create over 300 jobs in Florida's Space Coast and continue the firm's partnership with the U.S. Navy.
The company has built and maintained submarine-launched ballistic missiles for the service branch for over six decades, including the Ohio-class submarine fleet's Trident II D5 missiles.
“We believe in strengthening our partnership with our Navy customer, and we believe in the future of this program,” Rick Ambrose, executive vice president of Lockheed's space business and a 2019 Wash100 winner, said in a statement.
Aside from Florida, Lockheed is slated to relocate components of the FBM program to Colorado and other locations.