Orbital Plans Expansion in Chandler, Arizona

WPC | Quote | Chart | News | PowerRating -- Orbital Sciences Corp., a space technology company, announced a major long-term commitment to the City of Chandler by unveiling its plans for an expansion of its launch vehicle research and development, engineering, manufacturing and testing facilities under a "build-to-suit" agreement with Gilbane Development Company on land adjacent to its current location on South Price Road.

Orbital is also renewing the lease on its current facility for another 11 years with W.P. Carey & Co., ensuring that the company will remain an anchor corporate tenant of the Ocotillo-area of Chandler for at least the next decade.

"Since Orbital first established a presence in Chandler 20 years ago when we acquired a small company called Space Data, we have been the beneficiary of a very business-friendly environment," said David W. Thompson, Orbital's Chairman and CEO. "We are most appreciative of the City's responsiveness to our development proposals for this project. In turn, we are very pleased to continue to grow in the area, adding to the dynamic local business environment and generating significant economic benefits for the community with high-tech and high-skill jobs."

Orbital currently occupies approximately 355,000 square feet at its current location, which is located on South Price Road, between Dobson Road and Queen Creek Road. This facility will be expanded by approximately 13,000 square feet and will undergo various upgrades to suit Orbital's operational needs. In addition to the South Price Road location, Orbital currently leases another 172,500 square feet in the Chandler area.

Orbital said in a release that the expansion will comprise up to 232,000 square feet in three new buildings. Together with the company's current location, the new development will create a campus of approximately 600,000 square feet that will be capable of accommodating nearly 2,200 employees. Orbital currently employs approximately 1,300 full- and part-time employees, plus another 150 on-site contractors, at its Chandler operations.

Speaking on behalf of the City of Chandler, Mayor Boyd Dunn, said, "This expansion by Orbital is great news for the community on a number of levels. We continue to achieve our goal of a diversified employment base, while setting an example that while the economy may be facing uncertain times, Chandler is a place that can and will provide an excellent opportunity for long-term growth. Orbital has long been a wonderful corporate neighbor, and we look forward to seeing that relationship continue for many years to come."

((Comments on this story may be sent to newsdesk@closeupmedia.com))

((Distributed via M2 Communications Ltd - http://www.m2.com))

http://www.10meters.com

Comments on this story may be sent to newsdesk@closeupmedia.com

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index