Major Defense Contract Bolsters South Jersey Economy

It’s good news for a defense contractor with a major operation in South Jersey.

Lockheed Martin has secured a $100 million contract with the federal government to develop the next generation of Aegis radar defense technology at its facility in Moorestown.

“It’s a huge win for the region and Lockheed Martin, we couldn't be prouder -right now the contract win sustain 3 thousand jobs for New Jersey employees,” said the Director of the Aegis program, Jim Sheridan.

Governor Christie was equally excited, “With the awarding of this contract and our continued partnership to sustain the economic vitality of the region, not only will Lockheed Martin continue the vital work of protecting our nation, the company will continue its commitment to the Garden State, the local community and the great workers it employs.”

Lockheed Martin has established itself as an international leader in major systems management, hardware production, systems integration and worldwide field support of the world’s most advanced surface ship radar and weapon systems. The company employs about 4,000 workers in Moorestown and more than 1,300 at other New Jersey locations.