Gulfstream Aerospace is going to be investing at least USD$500 million in the hope to expand its operations in Georgia and add over another 1,000 jobs.
The company, a business-jet unit of defence contractor General Dynamics, plans to expand its facilities at the Savannah-Hilton Head Airport and will renovate parts of its main headquarters campus, the Georgia governor's office said in a statement on Monday. Gulfstream has about 5,500 workers.
"This expansion is necessary to meet the industry's projected increase for new business-jet aircraft and the maintenance that will follow," said Joe Lombardo, president of Gulfstream.
The business jet market took a hard landing back in 2009, when demand tumbled after five years of annual delivery increases as companies clamped down on spending in the uncertain economy.