Aerojet Rocketdyne, a GenCorp. (NYSE: GY) company based in Sacramento, on Thursday broke ground on an expansion of its operation in the Highland Industrial Park in East Camden.
The expansion, originally announced in June, will bring 85 new jobs to the plant, bringing its total employment there to more than 630.
Gov. Asa Hutchinson traveled to Camden to attend the ceremony, which included state and local officials, company leaders and employees.
Company officials and the governor met earlier this year during the Paris Air Show to finalize expansion plans. The company is receiving incentives from the state to help the expansion, including $250,000 from the Governor’s Quick Action Closing Fund.
“We appreciate the commitment Aerojet Rocketdyne made to expand in Arkansas in this meeting,” Hutchinson said. “These jobs will have a significant impact on the economy of southern Arkansas for years to come.”
In all, state and local incentives for the company provided job investment and creation programs, tax exemptions, real estate tax grants and training reimbursements, according to the Arkansas Economic Development Commission.
Aerojet Rocketdyne makes solid rocket motors and warheads for the defense industry at a 1,200-acre facility in the industrial park.
“We are delighted to be able expand our capabilities and workforce here and grateful for way that Gov. Hutchinson and local leaders have welcomed our growth,” Aerojet Rocketdyne CEO and President Eileen Drake said in a news release. “This expansion is pivotal to the success of the Competitive Improvement Program we announced in March that is strengthening our position in the aerospace and defense industry.”
Also Thursday, the company dedicated a 12-megawatt solar field under construction by Silicon Ranch Corp. on 100 acres of adjacent land in the industrial park.
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