An Israeli defense electronics manufacturer, ELTA Systems, is opening in Maple Lawn and it expects to create 100 high-tech jobs over the next four years, according to the Maryland Department of Business and Economic Development (DBED).
The company has leased a 7,500-square-foot space in Maple Lawn and said in a press release that it plans to expand to 25,000 square feet as it hires more workers and grows into a full-service manufacturing company.
ELTA Systems is a subsidiary of Israel Aerospace Industries. It produces electronic radar, communication and surveillance equipment designed for military intelligence and reconnaissance, according to ELTA’s website. The company has $1 billion in annual sales, 90 percent of which comes from exporting defense systems to more than 50 countries worldwide, according to the release.
The company was provided with a $300,000 conditional loan through the Maryland Economic Development Assistance Fund. The term of the loan is 10 years with 3 percent interest, but the company must guarantee it will create 100 jobs by 2021 and remain at its location for the duration of the loan, according to Karen Glenn Hood, director of media relations for DBED. Howard County is offering a property tax credit, according to the DBED.
“I am excited and proud that ELTA North America has chosen Howard County,” County Executive Ken Ulman said in a press release. “When I was in Israel last year I met with ELTA’s parent company, IAI Ltd., and felt that their management team truly understood that Maryland’s and Howard County’s highly-educated workforce and business friendly environment are the perfect fit for both sides.”