Lockheed Martin Corp. has started construction on a new $350 million satellite manufacturing facility at its Waterton Canyon campus in Jefferson County.

Lockheed Martin (NYSE: LMT) said its new 266,000-square-foot Gateway Center satellite plant will be completed in 2020.

The new facility is part of the ongoing transformation and expansion of the foothills campus, which is the headquarters of aerospace and defense company's Lockheed Martin Space Systems Co. (LMSS) division.

Construction is expected to employ a total of 1,500 contractors over the course of three years, the company said.

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