Raytheon Technologies Corp., the parent company of jet engine maker Pratt & Whitney that sounded the alarm when it announced in 2019 that it would be moving from Connecticut to Massachusetts, announced on Tuesday that it would be moving its headquarters in the Virginia suburb of Washington, D.C.
The aerospace and defense giant will move to Arlington, Va., to be closer to Congress and the Pentagon that generate its military-related revenue. A spokesperson said Raytheon would move in the July-September quarter.
The relocation “increases agility in supporting U.S. government and commercial aerospace customers and serves to strengthen partnerships that will advance innovative technologies to advance the industry,” Raytheon said. Washington, DC also serves as a convenient travel hub for customers and employees around the world, he said.
Raytheon said it would maintain its US presence which includes 600 locations in 44 states and territories. Each of the four companies – Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense – currently have operations in Virginia.
Raytheon Technologies said it had neither accepted nor sought financial incentives to support the move.
Raytheon Technologies was formed in 2020 with the merger of Raytheon Co., based in Waltham, Mass., and United Technologies Corp. in 2020.
UTC was then headquartered in Farmington and its move to Massachusetts followed the move of General Electric Co. and Alexion Pharmaceuticals Inc. to Boston in 2017; and Aetna, which remains in Hartford but as a subsidiary of CVS Health Corp. in Woonsocket, RI
Otis Worldwide Corp. parted ways with United Technologies in 2020 and committed to remaining in Farmington.
Raytheon’s two commercial aviation businesses, Pratt & Whitney and Collins, generated more than $36.5 billion in revenue last year. Its two military activities accounted for $30.7 billion.
Boeing Co. announced on May 5 that it would move from Chicago to Arlington. Aerospace and defense company employees in the region support various business functions and specialize in advanced aircraft development and autonomous systems, the company said.
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