Raytheon on June 10, 2019 in Waltham, Mass. (Nancy Lane, MediaNews Group/Boston Herald/TNS)
Raytheon Technologies Corp., jet engine manufacturer Pratt & Whitney’s parent company that raised alarms when it announced in 2019 it would leave Connecticut for Massachusetts, said Tuesday it will move its headquarters to the Virginia suburbs of Washington, D.C.
The aerospace and defense giant will relocate to Arlington, Va., to be closer to Congress and the Pentagon that generate its military-related revenue. A spokesman said Raytheon will move in the July-September quarter.
Relocating “increases agility in supporting U.S. government and commercial aerospace customers and serves to reinforce partnerships that will progress innovative technologies to advance the industry,” Raytheon said. Washington, D.C., also serves as a convenient travel hub for global customers and employees, it said.
Raytheon said it will maintain its U.S. presence that includes 600 sites in 44 states and territories. Each of the four businesses — Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense — currently have operations in Virginia.
Raytheon Technologies said it has not accepted or sought financial incentives to support the move.
Raytheon Technologies was established 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 by 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, R.I.
Otis Worldwide Corp. was spun off from United Technologies in 2020 and committed to remain 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 businesses accounted for $30.7 billion.
Boeing Co. announced May 5 it will move to Arlington from Chicago. The aerospace and defense firm’s employees in the region support various corporate functions and specialize in advanced airplane development and autonomous systems, the company said.
©2022 Hartford Courant
Visit courant.com.
Distributed by Tribune Content Agency, LLC.
