Fighter jet cuts may cost jobs at Marietta plant
MARIETTA, Ga. -- Cobb County leaders are concerned about major military budget cut to the F-35…
Georgia (Sep 22, 2011) —
Link To Articlehttp://www.wsbtv.com/news/29259301/detail.html
MARIETTA, Ga. -- Cobb County leaders are concerned about major military budget cut to the F-35 fighter jet manufactured at the Lockheed Martin plant in Marietta.
This week, a Senate defense appropriations committee recommended the program’s funding be reduced by nearly $700 million.
“Long term we’re concerned about jobs,” said Marietta Mayor Steve Tumlin.
Tomlin told Channel 2’s Tom Regan that he hopes the recommended cuts would be reduced before the defense budget is finalized.
The F-35 Joint Strike Fighter is currently the military’s most costly program. Each jet costs about $135 million and the entire program is budgeted in the hundreds of billions of dollars. …
Kennesaw State University economics professor Gorvind Hariharahan told Regan that Lockheed Martin needs to look for foreign countries as new customers for the F-35, like India and South Korea.
“It’s absolutely imperative they come up with a way to tap into the external markets,” Hariharahan said.
Lockheed Martin has already announced 1,500 layoffs in its aircraft business. A company spokesman told Regan is not yet unknown how many jobs will be cut at the Marietta plant.
Posted: 5:53 pm EDT September 21, 2011Updated: 9:50 am EDT September 22, 2011
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