Lockheed Martin Announces $300 Million Expansion in Grand Prairie, TX

North Texas Economic Growth: Lockheed Martin Announces $300M Expansion and F-35 Production Plans

Lockheed Martin recently announced two major developments that highlight continued investment in U.S. manufacturing and the defense industry, including a $300 million expansion in Grand Prairie, Texas, and a new framework agreement for long-term F-35 production.

Together, these announcements reflect the company's commitment to expanding manufacturing capacity, supporting American jobs, and strengthening supply chains.

$300 Million Expansion in Grand Prairie, TX

According to an October 19, 2026, report from the Dallas Business Journal, Lockheed Martin plans to invest approximately $300 million in its Missiles and Fire Control manufacturing campus in Grand Prairie.

The project includes 100,000 square feet of new manufacturing space and 85,000 square feet of additional office space, bringing the facility to more than 735,000 square feet.

Lockheed Martin also announced plans to add 2,000 jobs across Texas, although the number specifically coming to Grand Prairie has not yet been confirmed.

New Multiyear F-35 Production Framework

On October 22, 2026, Lockheed Martin announced a new framework agreement with the U.S. government for long-term F-35 Lightning II production and sustainment.

The proposed agreement includes 850 U.S. aircraft over 10 years, along with spare parts, maintenance support, and international customer orders. The framework anticipates continued production of 156 aircraft annually.

According to Lockheed Martin, the agreement could support approximately 317,000 U.S. jobs and generate an estimated $79 billion in annual economic activity over the next decade.

The framework is not yet a finalized contract and remains subject to government authorization, funding, and final negotiations.

What This Means for North Texas

These announcements reinforce North Texas' role as an important center for advanced manufacturing, aerospace, and defense.

With major Lockheed Martin operations in both Grand Prairie and Fort Worth, continued investment could create opportunities for local businesses, suppliers, construction companies, and other supporting industries.

For homeowners and those following the North Texas real estate market, economic development and employment trends are worth watching. Job growth can influence long-term housing demand, alongside mortgage rates, housing inventory, and local home prices.

While these announcements do not guarantee changes in property values or housing demand, they are important developments to follow as the Dallas–Fort Worth region continues to evolve.

Read the Original Announcements

For additional details, explore the original reports:

1. Dallas Business Journal — October 19, 2026

Lockheed Martin's $300 Million Expansion Flexes Grand Prairie's Manufacturing Muscle

Source: Leonardo Rosas, Dallas Business Journal.

2. Lockheed Martin — October 22, 2026

New Framework Agreement for Multiyear F-35 Production and Sustainment

Source: Lockheed Martin Aeronautics, October 22, 2026.

 

 

 

 

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Frequently Asked Questions

What is Lockheed Martin's $300 million expansion in Grand Prairie?

Lockheed Martin plans to invest approximately $300 million in its Grand Prairie manufacturing campus, adding 185,000 square feet of manufacturing and office space.

What is the new F-35 production agreement?

The proposed framework covers 850 U.S. F-35 aircraft over 10 years, along with maintenance, spare parts, and international orders. Final contract terms are still pending.

How could Lockheed Martin's investments affect the North Texas housing market?

Major business investments can support employment and economic activity, potentially influencing long-term housing demand. However, local home prices and market conditions also depend on inventory, mortgage rates, and affordability.

Is Grand Prairie, TX experiencing economic growth?

Grand Prairie continues to attract major business investments, including Lockheed Martin's planned $300 million manufacturing expansion, strengthening its position in North Texas' industrial sector.

 

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At Better Way Realty Group, led by Beth Steinke, we help buyers and sellers navigate the real estate market in Mansfield, Grand Prairie, Midlothian, Waxahachie, Arlington, and surrounding North Texas communities.

We believe informed real estate decisions start with understanding both the housing market and the communities we serve. That's why we share local development news, housing market updates, and real estate insights to help our neighbors stay informed.

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