Lockheed Martin is planning a new six-story office building at its Missile and Fire Control plant near Orlando's tourism corridor, driven by employment growth and buoyed by up to $3.5 million in public incentives that were approved last year.
To be located at 5600 W. Sand Lake Road, the new office building and associated surface parking will house "several hundred" employees, company spokeswoman Dana Casey told GrowthSpotter.
Lockheed Martin filed permit requests in mid-December for excavation fill and mass grading on the site, a building permit for site work, and a foundation and structure package for a future office building, all of which remain under review by county staff.
Documents submitted list the building as six stories tall, but do not include a proposed square footage, its acreage footprint or the number of parking spaces planned.
The company expects to start horizontal construction in the first quarter, said Casey, despite those deficiencies on the plans and others that Lockheed Martin will have to rectify in the coming weeks.
Work on the first two horizontal phases was conservatively estimated by the applicant at more than $8.58 million.
The new office building plans follow an announcement by Lockheed Martin in 2017 to expand its operations at the MFC plant in the coming years.
County Commissioners approved $700,000 in tax refund incentives last May, its local portion of a $3.5 million incentive package request from Lockheed Martin that the state will fund the majority of.
"We are expanding our footprint and our employment base to support new business opportunities, and look forward to continued growth and partnership with the county and state of Florida," Casey said. "We've been fortunate to sustain our already strong pipeline of business, and secure some major new business in 2017."
The company sought the state and local funds in exchange for promising to create 500 new jobs at the MFC plant over the next five years, with average annual salaries of $87,000. The incentives do not take effect until the new building investment is made, and the jobs created.