Grant & Loan Awards: Chatham County
EDGE grant funds of $7,500,000 will be used to assist with the expansion of Gulfstream Aerospace Corporation’s (GAC) Savannah facilities to ensure that the company is well-positioned to meet future demand for business jet aircraft and support services. Gulfstream Aerospace Corporation is a wholly owned subsidiary of General Dynamics, the fifth largest defense contractor in the world. GAC designs, develops, manufactures, markets, services and supports the most technologically advanced business jet aircraft in the world. With manufacturing and servicing facilities throughout the world, its primary manufacturing, research and development, servicing and headquarters location is in Savannah with over 5,000 employees. The expansion will provide good, high-tech jobs including production specialists, engineers and support technicians with a significant ripple effect. Gulfstream is the aircraft of choice of 34 governments and 22 countries (including the United States) around the world to transport their heads-of-states. GAC employs more than 9,700 people worldwide.
EDGE loan funds of $5,000,000 are awarded to assist with site preparation and infrastructure in support of the location of Mitsubishi Power Systems Americas, Inc. (MPS) to the mega site near Pooler in Chatham County. Mitsubishi, with a history dating back to 1884, is publicly traded on the Tokyo Stock Exchange and is a diversified Fortune “Global 150” company with more than $30 billion in annual revenues and 40,000 employees worldwide. The Company, with construction well underway on the new, state-of-the-art facility along the I-95 corridor, expects to make a private investment of approximately $325 million. In particular, this plant will produce gas turbine combustor components to support operating units in the Western Hemisphere and new turbines worldwide. The site location provides convenient access by road, rail and sea. It is anticipated that this project will provide strong regional economic impact, creating jobs not only in Chatham County but also in other neighboring counties.