President Donald Trump has declared that Sikorsky, a subsidiary of Lockheed Martin (NYSE:LMT), will be financing a new helicopter landing pad at the White House.
On Monday, Trump told reporters in the Oval Office that Sikorsky would fund a new granite landing pad on the White House South Lawn. The pad is designed for the VH-92A Patriot model Marine One helicopters, which have been causing damage to the lawn during landings.
Trump indicated that Sikorsky would invest approximately $5 million to $6 million in the project. He also requested a carved seal of the White House to be featured on the helipad. “They’re paying the full cost, and when I heard they were paying the cost, I went out and said, ‘Let’s do a beauty. Let’s not just do a piece of concrete and paint it white,’” he said.
Lockheed confirmed the contribution range mentioned by Trump to Reuters in a statement, but did not disclose a specific cost. The company spokesperson said the contribution was made specifically to the National Park Service and emphasized that the company’s dealings with the federal government follow strict ethics and compliance standards and comply with all applicable laws and regulations.
VH-92A Sparks Helipad Plan
