Lockheed Martin seeking $107 million in N.J. tax breaks

The defense contractor Lockheed Martin Corp. is seeking $107 million in New Jersey tax breaks for a facility in Camden.The New Jersey Economic Development Authority is considering the award at its meeting Tuesday.

The tax credits would be given out over 10 years and would be conditional on Lockheed providing a certain number of jobs in the city.

Neither Lockheed nor the EDA has announced specifics on the number of jobs or what the facility would be.

The Bethesda, Maryland-based company already has nearly 4,000 workers at facilities in nearby Moorestown and Cherry Hill.

Since last year, New Jersey has been using tax breaks aggressively to lure and keep companies, especially in Camden, which is among the most impoverished cities in the country.

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