Park Aerospace announced it will invest $65 million in a new advanced composite materials manufacturing facility built at Tulsa International Airport, according to themanufacturer.com.
The facility will strengthen the state's position as a growing hub for aerospace manufacturing, the manufacturer.com reported.
A contractor wasn't named.
Park Aerospace said construction would start shortly on an 18-acre site within the airport's North Development Area.
Completion is anticipated in 2028, with more than 100 jobs created once operational, themanufacturer.com reported.
Park Aerospace has supplied the aerospace industry for more than 50 years and manufactures advanced composite materials for commercial aviation and defense applications. The company said the investment marks a major expansion as the demand for high-performance aerospace materials continues to grow.
Brian Shore, chairman and CEO of Park Aerospace, told themanufacturer.com that the move marks a new chapter in the company's history.
"Thank you, Oklahoma, thank you, Tulsa, and thank you, Tulsa International Airport, for welcoming Park Aerospace to your state, your community and your wonderful airport," he said. "Park has come a very long way since we started in 1954 with almost nothing in that little garage in Woodside, Queens, but, to us, our new home at the Tulsa International Airport represents an exciting new beginning for our company."
Airport officials said the new investment points to the strength of Tulsa's aerospace ecosystem — combining an established aviation infrastructure with a skilled workforce and education pipeline, themanufacturer.com reported.
Park Aerospace is the latest manufacturer to expand at the Tulsa airport, joining recent investments that include Agile Space Industries' propulsion testing and manufacturing expansion, Quantum Space's spacecraft manufacturing facility and continued growth by Lufthansa Technik Component Services.
Oklahoma Gov. Kevin Stitt said the investment points to the state's growing competitiveness in aerospace manufacturing, themanufacturer.com reported.
"This investment is another powerful example of Oklahoma's aerospace industry continuing to grow and compete on a global stage," he said. "Park Aerospace's decision to expand in Tulsa reflects the strength of our workforce, our pro-business environment and the momentum we're building as a destination for advanced aerospace manufacturing."
Park Aerospace's announcement was made during the Farnborough International Airshow in the United Kingdom in partnership with the state of Oklahoma.
