Grant & Loan Awards: Chatham County


Chatham County

Equity Fund: $7,500,000

Awarded: 11/12/2010

Applicant: Southeast Economic DA-Gulfstream Aerospace

EDGE grant funds of $7,500,000 will be used to assist with the expansion of Gulfstream Aerospace Corporation’s (GAC) Savannah facilities to ensure that the company is well-positioned to meet future demand for business jet aircraft and support services. Gulfstream Aerospace Corporation is a wholly owned subsidiary of General Dynamics, the fifth largest defense contractor in the world. GAC designs, develops, manufactures, markets, services and supports the most technologically advanced business jet aircraft in the world. With manufacturing and servicing facilities throughout the world, its primary manufacturing, research and development, servicing and headquarters location is in Savannah with over 5,000 employees. The expansion will provide good, high-tech jobs including production specialists, engineers and support technicians with a significant ripple effect. Gulfstream is the aircraft of choice of 34 governments and 22 countries (including the United States) around the world to transport their heads-of-states. GAC employs more than 9,700 people worldwide.

Total Budgeted Project Cost: $535,507,000

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