A year after announcing its move to Louisiana, Globalstar has launched the first six of its second-generation mobile communications satellites and has created more than 100 jobs. The company is on track to reach 185 jobs at its Covington headquarters by the end of 2011. The high-tech firm relocated from Silicon Valley and plans to create 593 jobs with an average annual salary of $70,000, plus benefits, by 2020. Louisiana provided an incentive package that included $4.36 million in relocation assistance over a two-year period and $3.69 million in lease payment support over a 10-year period to secure the headquarters relocation project. All of those funds are performance-based and require Globalstar to meet payroll targets set out in a 2010 agreement with the state. For the rest of 10/12 Corridor Weekly, click here.
Globalstar reaches critical milestone
Sign up for the free Daily Report email – local news about the people, companies and issues that impact business impact business in Baton Rouge and beyond.
