"Project X" -- Gulfstream adding 1,000+ jobs in Savannah (Atlanta: employment, buying)

[Newsboy]

The mysterious "Project X" industrial development rumored about for months in the Savannah media was confirmed today, with Gulfstream Areospace announcing a $500 million expansion to its jet manufacturing facility, that will add more than 1,000 employees to the 5,000 workers they already have in Savannah. The new facility will be in the NW quadrant of Sav Intl Airport property, on the approach to the passenger terminal off I-95, and because it's not connected to their current facility, will involve rerouting some existing roadways as well as the construction of new taxiways and, eventually, a third runway.

This news is HUGE on numerous fronts: As the leading manufacturer of private corporate and business class jets in the world, Gulfstream's current financial strength (orders are at record highs) and optimistic forecast for the future suggests a pretty healthy world economic outlook. Further, Gulfstream execs hinted that today's announcement is just a first phase, and additional growth and investment is likely. And it goes without saying that, before the 1,000 additional Gulfstream jobs, come online, a windfall of local employment will be realized for construction of both the plant itself and airport infrastructure and the influx of support services, suppliers, etc.

No surprise why every state dignitary from the governor on down, as well as both of Ga's U.S. Senators, SE Ga congressmen and every Tom, Dick and Harry from the local community was there this morning for the photo op.

[ellie]

That is good news.

[Newsboy]

Especially since only about a year and a half ago, Gulfstream was furloughing workers due to cancelled or delayed orders.

Again, what cannot be overemphasized enough is the really big deal it is that this particular sector of the economy -- business class supersonic jets -- has rebounded so strongly. It reflects a lot of hope for the economy as a whole that people and corporations are again confident enough to make these huge purchases, which aren't like buying a car -- these planes are pre-ordered in advance and built to spec.

[WanderingImport]

So happy to hear this news! Gulfstream has good paying jobs and that's exactly what the doctor ordered for Savannah! This kind of job growth can help sustain all the residential development out in West Chatham and Effingham.

[Newsboy]

TRUE these are very specialized BLUE collar jobs and Gulfstream pays VERY well. I don't know the exact formula, but for each new job created in a community, the actual number of people it attracts is 3.5 to 4. which means an aincrease of several thousand overall. So after a slight blip in the last couple of years, this should put the West Chatham housing boom back into high gear.

I'm also hoping it revives plans to build that huge outdoor "destination" shopping center planned for the intersection of I-16 and Pooler Parkway, that at one point was to include Belk, Target, Kohl's, a multiplex theatre and numerous restaurants.

[johnatl]

This announcement was all over the news up here today. Great news for Savannah and the State in general.

Congrats, Savannah!

Gulfstream announces a $500M expansion in Georgia *| ajc.com (http://www.ajc.com/business/gulfstream-announces-a-500m-742213.html - broken link)

Gulfstream Unveils Project X, Promises Georgia Jobs - 11Alive.com | WXIA | Atlanta, GA

[Newsboy]

INTERESTING FACTS:

-- Georgia ranks eighth in the U.S in aviation industry employment with more than 80,000 workers.

-- Aviation exports also ranked eighth in the U.S., at $3.4 billion worldwide in 2009.

-- University of Georgia economist Jeff Humphreys calculates that the $500 million expansion could create an estimated 3,300 additional related jobs over time in the state

-- State development officials estimated the net fiscal impact (revenues minus expenditures) of the project to Georgia at $65.4 million over 10 years in current dollars.

[ellie]

It will be great for those who qualify for the jobs, specifically qualified. I just read this disturbing article.

Employers Pickier About Job Applicants' Skills : NPR

[brent6969]

Way to go Savannah.............I love it there......

[bellhead]

The majority of the technical jobs will be filled by former military as its the only place anymore for that type of technical training + ojt. The engineers will be drawn from around the country so hopefully this will lead to a mini housing boom.