Benzinga | Sep 16, 2021 03:34PM EDT

L3Harris Expands Indiana Campus Size, Workforce To Support DoD Satellite Work

* L3Harris Technologies Inc (NYSE:LHX) increased the size of its campus and is expanding its workforce in Fort Wayne, Indiana, to address the Department of Defense's need for advanced, resilient satellites.

* "At its new facility, L3Harris will develop technology to detect hypersonic missiles and defend against adversaries like Russia and China, track weather patterns around the world and boost our economy," said U.S. Rep. Jim Banks.

* The new classified facility provides the space for the company's missile defense satellite programs. It will support engineering, integration, testing, and program management and brings the total size of the L3Harris campus to 150,000 square feet.

* The Space Development Agency awarded L3Harris its tracking layer prototype program to develop and integrate an end-to-end satellite system in October 2020.

* Price Action: LHX shares are trading lower by 2.93% at $222 on the last check Thursday.