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United Technologies CEO explains why Boston is the key to a new aviation giant




Despite an imminent flow of his headquarters to Boston, Massachusetts, United Technologies, CEO of Gray Hays, FOX Business said that perceptions of leaving Connecticut over high taxes are "obviously false."

"The rational for this was like a merger of like, we are compromises. We make compromises on the name. We make compromises on the composition of the board. We make compromises on headquarters," he told Maria Bartiromo on Wednesday that he would add that It will remain a "big, big base" for the company.

"Moving from Connecticut to Massachusetts, it's not like you're going from high cost to low cost. In fact, we believe there is a great talent base in [Massachusetts] in the Boston area that will help us in the long run when it is about recruiting talent, but this is not about Connecticut being a bad place to invest or a bad place to be, "he explained.

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Raytheon and United Technologies announced plans to merge into a corporation agreement, call a merger of equals, and create a company called Raytheon Technologies Corporation It is expected to have USD 74 billion in turnover annually.

Raytheon produces defense technology and Tomahawk missiles, and United Technologies makes Pratt & Whitney engines, which operate Airbus A320neo, Airbus A220-1[ads1]00 and -300 series, and the F-35 fighter plane.

Pratt & Whitney is currently headquartered in Connecticut.



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