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Business

Raytheon plans to relocate headquarters out of Massachusetts




Raytheon Technologies, the largest aerospace and defense contractor near the top of the Fortune 500, will move its headquarters out of Massachusetts. The company announced Tuesday that it will move its global headquarters from Waltham to Arlington, Virginia. This transition will take place during the third quarter of the year. The reasons mentioned for the move include better proximity to customers and a convenient travel hub in Washington. The company said it did not receive or seek any financial incentives in connection with the decision to relocate. “The location increases the agility of supporting US governments and commercial aviation customers and serves to strengthen partnerships that will advance innovative technologies to advance the industry,”[ads1]; the announcement said. Raytheon is No. 58 on the Fortune 500 list. The company has 600 facilities in 44 states and territories. As of August 2021, the Boston Business Journal reported that Raython was the 10th largest employer in Massachusetts, with 15,000 employees. The company has a total of approximately 180,000 employees. “It will have no effect on the number of employees in Massachusetts,” a spokesman wrote in an email to WCVB. “Raytheon Technologies currently employs over 450 vacancies in Massachusetts and will continue to invest in Massachusetts’ workforce and facilities.” “I spoke to Raytheon yesterday afternoon about this,” Governor Charlie Baker said. “They are the only major defense contractor in America that does not have headquarters somewhere in the greater DC area – so in some ways it is not a surprise. I do not think it will have any impact on their growth or their continued involvement here in the Commonwealth. . ” Raytheon and Connecticut-based United Technologies merged in 2020, creating a single company with four major business components: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense. “Each of the company’s four business units currently operates in Virginia , “said the company.

Raytheon Technologies, the largest aerospace and defense contractor near the top of the Fortune 500, will move its headquarters out of Massachusetts.

The company announced Tuesday that it will move its global headquarters from Waltham to Arlington, Virginia. This transition will take place during the third quarter of the year.

The reasons mentioned for the move include better proximity to customers and a convenient travel hub in Washington. The company said it did not receive or seek any financial incentives in connection with the decision to relocate.

“The location increases the agility of supporting US governments and commercial aviation customers and serves to strengthen partnerships that will advance innovative technologies to advance the industry,” the announcement said.

Raytheon is No. 58 on the Fortune 500 list. The company has 600 facilities in 44 states and territories.

As of August 2021, the Boston Business Journal reported that Raython was the 10th largest employer in Massachusetts, with 15,000 employees. The company has a total of approximately 180,000 employees.

“It will have no effect on the number of employees in Massachusetts,” a spokesman wrote in an email to WCVB. “Raytheon Technologies currently employs over 450 vacancies in Massachusetts and will continue to invest in Massachusetts’ workforce and facilities.”

“I spoke to Raytheon yesterday afternoon about this,” Governor Charlie Baker said. “They are the only major defense contractor in America that does not have headquarters somewhere in the greater DC area – so in some ways it is not a surprise. I do not think it will have any impact on their growth or their continued involvement here in the Commonwealth. . ”

Raytheon and Connecticut-based United Technologies merged in 2020, creating a single company with four major business components: Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense.

“Each of the company’s four business units currently operates in Virginia,” the company said.

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