Calverton Aviation & Technology (CAT), has announced Riverhead Town Board has voted to approve the sale to CAT of the 1,643+-acre undeveloped parcel in eastern Suffolk County, New York that was the former Naval Weapons Industrial Reserve Plant at Calverton, the company said.
Over the next decade, CAT intends to leverage several billions of dollars of private investment to transform this significant asset into a world-class aerospace technology, innovation and high-tech manufacturing hub.
Calverton Aviation & Technology Innovation Hub seeks to create a critical mass of companies in a new aerospace cluster. Currently all developing aerospace industries are based on next generation, ultra-light weight/ultra-strong composites. The CAT Hub will anchor emerging industries around the next generation carbon and composite production lines of Luminati Aerospace, one of the Founding Partners of CAT.
CAT will work with the Town of Riverhead to develop a “critical path” of milestones necessary to complete the due diligence process and record the subdivision necessary to transfer the property, and will simultaneously pursue building permits for the Phase I building, so that shovel can break ground as soon as possible after the transfer of the property to CAT.