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Water-Related News

Lockheed Martin plans wetland mitigation bank

The maker of the F-35 raptor and capsules that explore outer space plans to profit from saving wild raptors and living space for some of Florida’s most threatened creatures.

Lockheed Martin has applied for a federal permit to operate a 4,700-acre wetlands mitigation bank at the southeast corner of South County Road 13 and Cocoa Water Plant Road, in Orange County.

The public has until Aug. 30 to comment on Lockheed’s permit application to the U.S. Army Corps of Engineers.

The mitigation bank — Lockheed’s first — would be called Little Creek Florida Mitigation Bank.

Mitigation banking is a process by which large areas of existing wetlands and/or other habitats are restored to offset loss of other wetlands or habitat destroyed for new homes, businesses, roads or other development. The mitigation bank sells “credits” to offset those impacts.

The aerospace giant, which had $45.6 billion in revenue last year, plans to re-establish cypress wetlands and associated wet prairie habitats that have been filled and are used in conjunction with Lockheed Martin’s Electronics Test Site Range operations on the property.