Town of Oro Valley issued the following announcement on Dec. 7.
In a joint press release with regional and state partners, Sun Corridor, Inc. announced that Leonardo Electronics US Inc. has purchased 12 acres in Oro Valley’s Innovation Park and is planning the construction of a new state-of-the-art semiconductor laser manufacturing facility. Leonardo Electronics is a provider of next-gen technologies for defense, security, medical and industrial applications, and is a U.S. subsidiary of Leonardo, the global aerospace, defense and security company headquartered in Rome, Italy. Construction is expected to begin in the spring of 2022.
Sun Corridor announced that the full expansion over five years will add an additional 170 jobs with a total capital investment of approximately $100 million, resulting in a total economic impact of $374,347,249 over the next 10 years.
Expansions like this are critical to the economic health of Oro Valley and the entire Tucson Metro region because primary employers bring quality job opportunities that draw a talented and diverse workforce. Specifically for Oro Valley, a larger workforce results in an increase to local spending as well as sales tax revenues, all of which helps to fund the services, facilities and infrastructure that local residents expect. Additionally, the estimated $100 million in capital investment brought by this project is a boost to construction sales taxes and future expansion.
“This new larger facility will support our business growth across all key market segments,” said Matthew Keegan, president and CEO, Leonardo Electronics US Inc. "We ultimately selected Innovation Park in Oro Valley due to its proximity to our existing employee base and exceptional talent in the region, which is one of the leading photonics technology hubs in the country."
Leonardo’s announcement serves to strengthen Oro Valley’s reputation as the “Upscale tech Mecca of Southern Arizona,” as named by the Arizona Daily Star. Innovation Park is already home to thriving companies like Roche Tissue Diagnostics, Meggitt Securaplane and the Oro Valley Hospital. Attraction of new primary employers is also consistent with Town Council’s strategic goals.
“We are thrilled to welcome Leonardo Electronics US to Oro Valley and to the Innovation Park family of high-tech and bio science companies,” said Town of Oro Valley Mayor Joe Winfield. "Leonardo’s specialized manufacturing techniques and international reach complement the other high caliber companies in our community, bringing quality jobs to Oro Valley and enhancing the town’s reputation as a bioscience and high-tech hub. We look forward to seeing them grow and thrive for many years to come.”
“Leonardo Electronics typifies the type of employer Oro Valley has been working diligently to attract over the past several years,” said Town Manager Mary Jacobs. “Their expansion into our community is beneficial on many levels, and I’m confident their presence in Innovation Park will serve as a catalyst for future investment by other primary employers. We are pleased to welcome Leonardo to their new home.”
Original source can be found here.
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