RIVERHEAD, N.Y (CBSNewYork) — A new high-tech company is expected to bring good jobs to Suffolk County.

It’s the biggest thing that has happened to Suffolk in 20 years, said Town of Riverhead Supervisor Sean Walter.

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Luminati Aerospace has purchased the property of the now-closed Sky Dive Long Island.

The aerospace company is developing large solar-powered drones that will fly in the atmosphere at about 60,000 feet to provide communication services to satellites, WCBS 880’s Sophia Hall reported.

“This one company will change the course of the Town of Riverhead,” said Walter. “You are talking about a billion dollar industry.”

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Walter said the company will bring in high paying jobs and they have already purchased a number of homes in the area for employees.

“To say the least, we are extremely excited,” Walter added.

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WCBS 880 has reached out to Luminati Aerospace for comment, but has not yet heard back.