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BRADENTON — Labinal Power Systems, a subsidiary of aerospace, defense and security firm Safran, is expanding its facility in Manatee County, according to a statement from the Bradenton Area Economic Development Corp.
The expansion includes the relocation of Aerosource, which Safran acquired in 2011, from New Jersey to south Manatee County. The move will add 84 jobs in the county over the next five years, the statement says.
In addition to adding jobs and capital investment, the move “also demonstrates that Manatee County is becoming a hub for the aerospace industry, one of the targeted sectors in the EDC's new strategic plan,” says Sharon Hillstrom, president and CEO of the Bradenton EDC, in the statement.
The Labinal Power Systems expansion qualified for $1.2 million in performance-based economic development incentives, the statement says.
Safran has 69,000 employees and generated sales of $20.4 billion in 2014, according to the statement. The firm has a U.S. subsidiary, Safran USA Inc., which has nearly 7,000 employees in 22 states.
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