Lockheed Martin celebrates expansion with new Somerset Co. facility

Apr 22, 2022 | Top Story Johnstown

Lockheed Martin celebrated the opening of its newly expanded Johnstown facility on Thursday.

The new location is at a building along Miller Picking Road in Davidsville, Somerset County.

Representatives John Joyce and Glenn Thompson joined the acting secretary of the Department of Community and Economic Development for the ribbon-cutting ceremony.

“Because of the strength of our F-16 program, I’m pleased to say that we will continue to grow our highly skilled workforce by more than 80 new jobs this year, and with this growth, comes strong, continuous ties and economic impact to our community for years to come.”

In the next year, the new Johnstown facility expects to hire more than 80 people to support its increased production of F-16 parts, including engine and fuel tank components.

One Big Beautiful Bill Act / Evolution of AI

One Big Beautiful Bill Act / Evolution of AI

BDO Digital Presentation BDO Digital’s discussion on how emerging technologies are rapidly changing financial processes, decision making, and operations at businesses across the country.Download the Presentation OBBBA Presentation The One Big Beautiful Bill Act of...

Unlock Bigger Deductions on Rental Real Estate

Unlock Bigger Deductions on Rental Real Estate

Many rental property owners are surprised to learn that federal tax law often restricts their ability to deduct losses, treating most rental activities as passive unless specific requirements are met. But if you can qualify for the real estate professional exception,...

Estate Planning for 2026 and Beyond

Estate Planning for 2026 and Beyond

Until recently, much tax uncertainty surrounded estate planning. The Tax Cuts and Jobs Act doubled the federal gift and estate tax exemption to an inflation-adjusted $10 million, but only for 2018 through 2025. Fortunately for those with larger estates, in 2025,...

Taking Control with Self-Directed IRAs

Taking Control with Self-Directed IRAs

You have until April 15, 2026, the tax filing deadline, to make 2025 contributions to an IRA. If you’re seeking more than the traditional mix of stocks, bonds and mutual funds, a self-directed IRA offers greater autonomy and diversification. But it also introduces...

If You’re Closing Your Business, Don’t Forget These Tax Steps

If You’re Closing Your Business, Don’t Forget These Tax Steps

Closing a business can be overwhelming. But it’s important not to let tax duties fall through the cracks. File a federal income tax return for your business’s final year and, if you have employees, make final federal tax deposits and report employment taxes. If you...