JERUSALEM (JTA) — The U.S. defense contractor Lockheed Martin Corp. said it is opening a research and development center in Israel.
The company, which manufactures fighter jets, said it would open the center at a new industrial park in Beersheva in southern Israel in conjunction with EMC Corp., which manufactures data storage equipment.
The initial combined investment of $1 million will go toward projects in cloud computing, data analytics and cyber technologies, Reuters reported.
“Our goal is to foster applied research and continued growth in Israel’s technology sector,” said Lockheed Martin vice president of international engineering and technology John Evans in a statement. “We recognize evolving global needs, as well as the wealth of innovation taking place within Israel and its universities.”
The official announcement will be made Monday at Israel’s first cybersecurity conference, Tech 2014, in Tel Aviv.