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Colorado Springs defense companies are on the offensive, battling cuts to the Department of Defense budget that could reach $600 billion. Continue Reading Colo. Springs battling to maintain defense budget

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Uncertainty in Washington about the 2012 defense budget — and billions in cuts expected in the next decade — has major defense contractors worried about shrinking contracts and cutting jobs. But smaller businesses in Colorado Springs are cautiously optimistic that smaller contracts might even the playing field. “Smaller companies are more nimble,” said Buddy Gilmore,… Continue Reading Defense budget cuts a bittersweet prospect in Springs

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ITT splits into three companies

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ITT Corporation, which has a division headquartered in the Springs, has re-organized branches of its companies. The company is spinning off its water technology and creating a defense company. ITT’s core business will continue under the ITT Corporation name. It will also retain ITT Mission Systems, the group headquartered in the Springs, which performs satellite… Continue Reading ITT splits into three companies

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In 2010, the Air Force Academy had the greatest economic impact in its recent history for the Pikes Peak region: $851 million. The reason: long-term, large scale construction projects. “It’s a 9-percent increase from last year,” said Lt. Col. Burke Beaumont, director of financial management and comptroller at the academy. “The primary reason is the… Continue Reading Construction boosts Academy’s economic impact

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The first winners from Fort Carson’s new aviation brigade will be construction companies: The Army plans to spend $224 million on buildings and hangars alone. But for local business, the economic impact will be muted, at least at first. That’s because local companies have a chance to be subcontractors but probably won’t be in the… Continue Reading Brigade’s impact will take time to develop

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Employment picture brightening despite calls to cut defense spending nationally While defense contractors throughout the nation are bracing for spending cuts from Washington, the outlook for hiring in Colorado Springs appears largely positive. Defense giants like Boeing, ITT Services and Northrop Grumman predict no downturn in their Colorado Springs employment picture, and smaller companies like… Continue Reading Springs defense contractors hiring by the hundreds

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Lockheed Martin 3Q profit falls 28%

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Even as the big defense contractor Lockheed Martin was explaining why its third-quarter profit shrank 28 percent, British Prime Minister David Cameron was laying out sweeping defense cuts on Tuesday. They include a smaller order for Lockheed’s new F-35 Joint Strike Fighter, built in Fort Worth, Texas. Continue Reading Lockheed Martin 3Q profit falls 28%

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NEK wins $6 million DoD contract

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NEK Advanced Securities Group of Colorado Springs was just awarded a $6.34 million Department of Defense contract. Its latest assignment will be to provide “operational support services and training to a classified and unclassified mission for the Defense Threat Reduction Agency contingency operations mission.” Like many defense companies that fly “under the radar,” NEK’s workforce focuses… Continue Reading NEK wins $6 million DoD contract

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Military contracts flow to local companies

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Military contracts for large and small projects have been awarded to local companies during the past two weeks. Most of them were funded by the American Recovery and Reinvestment Act. Doss Aviation secured a $9.09 million contract from the U.S. Air Force’s Air Education and Training Command at Randolph Air Force Base in Texas for… Continue Reading Military contracts flow to local companies

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Contractors win new business

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There’s plenty of work on the horizon for local defense contractors – or for those with a Pikes Peak regional office. Here’s a look at the most recent contract awards: Contractor a.i. solutions wins $209 million contract Take a.i. solutions, for example. The Maryland-based company has been awarded a $209 million contract to provide design,… Continue Reading Contractors win new business

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