SAVANNAH, Ga., January 8, 2013 — Gulfstream Aerospace has entered a 12-year lease with North Point Real Estate for a 70,000-square-foot office building in the Crossroads Business Park. The building will house Gulfstream’s Information Technology Center of Excellence, supporting the company’s worldwide business operations. It will house more than 400 professionals, 100 of whom will be new employees hired over the next several years.
Gulfstream has continued to grow its Savannah facilities since the November 2010 announcement of a seven-year, $500-million Savannah expansion. As part of that expansion, Gulfstream committed to hire an additional 1,000 employees over a seven-year period.
“Within the first two years of that seven-year period, Gulfstream has hired more than 1,695 new full-time employees in Savannah alone, nearly 700 more than what we originally estimated,” said Larry Flynn, president, Gulfstream. “We’ve also invested more than $175 million toward our $500 million commitment. This brings our total employment in Georgia to 8,580 and demonstrates that Gulfstream is a powerful economic engine for both local and state economies.”
Financial details of the North Point transaction were not disclosed. The Savannah Economic Development Authority (SEDA) played a critical role in securing this site, including site selection, acquisition of additional land and lease support consistent with previous agreements between SEDA and Gulfstream.