Georgia Tech land purchase proposal in Cobb County moves forward

The final Lockheed Martin F-22 Raptor fighter jet is rolled off the assembly line in Marietta on Dec. 13, 2011. The aircraft was regarded as the world's premier 5th generation fighter.

The final Lockheed Martin F-22 Raptor fighter jet is rolled off the assembly line in Marietta on Dec. 13, 2011. The aircraft was regarded as the world's premier 5th generation fighter.

Georgia Board of Regents members reviewed a $63 million proposal Tuesday by Georgia Tech to purchase land in Cobb County to expand its research efforts and expect to vote on the plans in September.

Tech wants a lease-revenue bond package to acquire and renovate 32 acres in Marietta owned by Lockheed Martin.

Renovations would include 755,000 square feet of office and warehouse space in four buildings, which previously housed operations for the F-22 Raptor fighter jet program.

The expansion by Tech could involve the relocation or placement of 500 research-related jobs to the site, a 2016 news release said.

This is a map of the Lockheed Martin campus in Marietta that Georgia Tech hopes to acquire and renovate using a $63 million bond package. (Georgia Board of Regents)

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