NEODESHA, Kan. – AgEagle Aerial Systems Inc. (NYSE American: UAVS), an industry leading provider of UAVs and advanced aerial imagery, data collection and analytics solutions, and the Kansas Department of Commerce in association with the Greater Wichita Partnership, today jointly announced that AgEagle will Â locate and expand its manufacturing operations in Wichita, Kansas. The Company worked with the Kansas Department of Commerce to secure incentives as it evaluated locations in two different states.
Wichita Mayor Brandon Whipple stated, Widely known as the ˜Air Capital of the World,' Wichita is delighted to now count AgEagle among the long list of leading aircraft manufacturing companies which call our great city ˜home.'Â AgEagle's leadership in the emerging drone market makes them an ideal and exciting complement to our region's long legacy of giving flight to pioneering innovation in aeronautical technologies; so we are thrilled to welcome them to our community.
David Toland, Cabinet Secretary of the Kansas Department of Commerce, added, AgEagle is a prime example of the sort of cutting-edge technology we're proud to create in Kansas. Wichita is the undisputed Air Capital of the World, and its culture of innovation in aerospace technology makes this a perfect fit. Congratulations to AgEagle on its decision to grow in Kansas.
On behalf of everyone at AgEagle, I am very appreciative of the tremendous enthusiasm and support that the State of Kansas has committed to our Company as we continue to evolve and expand our drone hardware manufacturing, assembly and testing operations. After evaluating locations in two different states, choosing to locate our manufacturing facility in Wichita was a decision based on our desire to tap the region's world class engineering and aeronautical talent pool, low-cost real estate advantages and high quality of life for our workforce. The incentive package awarded to us made our decision that much easier, and willÂ help empower AgEagle to ultimately hire, train and employ a Wichita-based workforce Â that will continue to grow over the next five years, noted J. Michael Drozd, CEO of AgEagle.
Concluding, Drozd noted, We expect to soon announce details relating to our final decision on the Wichita-based manufacturing/office space to which we will be moving and the anticipated timetable for our official move.Â Â
About AgEagle Aerial Systems Inc.
Founded in 2010 and based inÂ Kansas, AgEagle has earned distinction as one of the industry's leading pioneers of technologically advanced drones and aerial imagery-based data collection and analytics solutions.Â We are trusted to helpÂ the world's growers, consumer packaged goods companies and their supply chain partners to proactively assess and manage the health of commercial crops, reduce the chemicals in produced foods and products and preserve and protect natural resources. In addition, we are at the leading edge of providing state and territorial departments of agriculture, growers and processors with registration, oversight, compliance/enforcement, and reporting solutions relating to the United States' emerging hemp cultivation industry. In late 2019, we began pursuing expansion opportunities within the emerging Drone Logistics and Transportation market with the manufacture and assembly of UAVs designed to meet specifications for drones that are meant to carry packaged goods in urban and suburban areas.Â For more information, please visitÂ www.ageagle.com.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management's current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.