$300 million expansion for Gulfstream

, a wholly owned subsidiary of

has announced plans for a $300 million, seven-year expansion of its manufacturing and service facilities in

. The work site will expand nearly 70 per cent in size by 2012, creating 1,100 new jobs.

First opened in 1967, Gulfstream's Savannah headquarters site includes initial phase manufacturing for the Gulfstream G550, G500, G450 and G350. The site also includes one of the company's five final phase manufacturing facilities and the largest of Gulfstream's 10 service centres.

"In the past four years we've seen strong, steady growth in our industry," Gulfstream President Bryan Moss said. "From 2004 to 2005, we experienced a 12 per cent increase in aircraft production at our Savannah facility and we have every reason to believe that growth will continue. This expansion is necessary to meet the industry's projected increase in demand for new business-jet aircraft and the maintenance that will follow.”