TEF Grant Ensures Lockheed Martin Will Create New Jobs in Houston
HOUSTON – Gov. Rick Perry today announced a $7.5 million Texas Enterprise Fund (TEF) grant to Lockheed Martin, which will bring about 1,000 new high-paying jobs to the Houston area. The TEF grant ensures that Lockheed Martin will create these jobs in the Houston area after they earned a multi-billon dollar contract from the National Aeronautics and Space Administration to build the Orion Crew Exploration Vehicle, which will become the foundation of America’s next generation human spaceflight program.
“This expansion will be a strong addition to Houston’s reputation as one of the world’s leading cities for the aerospace industry,” Perry said. “In the future, Lockheed’s larger presence could help Houston attract other aerospace jobs because of the tendency of likeminded employers to locate near one another.”
State officials began working with Lockheed Martin and local officials early this year to ensure that the highly sought-after contract went to a company creating jobs in Texas.
“With the president’s call for a renewed commitment to space exploration a lot of other cities and states across the country have been looking for a way to transport some of that prestige and some of those jobs away from Texas,” Perry said of the competition the Houston area faced in competing for the NASA contract.
In addition to the 1,000 new jobs, which will pay about $65,000 a year, Lockheed Martin will invest $68 million in the Texas economy.
“Those dollars will benefit the entire region as they make their way to local shops and family pocketbooks,” Perry said.
The legislature created the TEF in 2003 at Perry’s request and re-authorized the program in 2005. To date, the deal-closing fund has helped the state secure projects that will bring more than 43,000 new jobs to Texas and add $9 billion to the economy.
Since 2003, Texas has gained more than 650,000 net new jobs – one reason it has been rated as having the best business climate in the nation.
“I am proud that the city that helped put the first man on the moon will also be the city that helps put the first man on Mars, and destinations beyond,” Perry said.
