"We had proposals from various states and cities," EDO's director of investor relations and corporate communications William A. Walkowiak, CFA, tells GlobeSt.com. "Locations that provided synergies with other existing EDO operations were given serious consideration."

EDO will invest a total of $48.8 million in real estate acquisition and improvements, machinery and equipment, employee training and relocation costs and retain 450 jobs in the state. The company has also committed to creating 375 new jobs here over the next five years. "The new space will house a modern manufacturing space, more suited for our current and expected production," notes Walkowiak.

Other than financial, the key factor in EDO's decision was its skilled workforce, who would be very difficult to replace, according to Walkowiak. "As an engineering-driven company, our people are essential to our long-term success." The company's heritage as a Long Island-based company goes back to 1925 when it was founded.