BAE Systems makes long-term commitment to Louisville

Titan Research and Development Louisville LLC and BAE Systems Inc. announced May 30 the signing of a new long-term lease, in which BAE Systems has agreed to sublease 629,329 square feet at the Airport Industrial Center, formerly Technology Park, in Louisville, Ky., over the next 10 years. The defense and aerospace company, which presently occupies the space, has an option to extend its lease for an additional five years, once the initial term expires in 2016.

"BAE Systems delivers outstanding products to the U.S. Department of Defense, and this new lease agreement ensures the company's quality work will continue to be performed in Louisville," said Kentucky Congresswoman Anne Northup. "I commend all involved in reaching this agreement that will be good for the military, our community, and the more than 300 BAE employees currently employed at the Airport Industrial Center."

BAE Systems opened its doors in Louisville in 1996 and includes manufacturing, engineering and customer support. Local officials and Titan believe BAE Systems' new sublease will help to promote further development and corporate expansion at the facility.

"This lease agreement means secure jobs and a new, long-term corporate commitment to our community," said Louisville Mayor Jerry Abramson. "Having this large anchor tenant, with hundreds of good-paying jobs, now committed signifies greater growth for the future."

The Airport Industrial Center is a 1.5 million-square-foot industrial and mixed-use center, located near Louisville International Airport, all major highways (interstates 264, 64, 65 and 71) and close to major manufacturers and employers in the Greater Louisville area. For 55 years, the property operated as the Naval Ordnance Station until the Navy closed the base in 1996, and privatized the park through the cooperation of federal and local governments.

"Now that BAE Systems has an agreement with Titan, we can move forward with our plans to explore ways to bring new work and new jobs to Louisville," said Mike Seale, program director for Homeland Defense at BAE Systems. "BAE Systems has a long, proud history of supporting the U.S. Navy and we're happy to carry on that tradition in this community."