MCKINNEY, Texas, Aug. 22, 2019 /PRNewswire/ -- Raytheon
(NYSE: RTN) announced today that it will build a
200,000-square-foot facility supporting 500 new high-tech jobs at
its Space and Airborne Systems headquarters in McKinney, Texas. Construction will be
completed in late 2020.
The announcement comes on the heels of research from The
University of North Texas Economic
Research Group, which found Raytheon's business operations in
North Texas contribute
$4.8 billion to the Texas economy. In 2018, Raytheon directly
employed more than 8,000 Texans. Supply chain activity and employee
spending supported an additional 10,000 jobs throughout the
state.
"This is an investment in the talented McKinney workforce," said Roy Azevedo, president of Raytheon Space and Airborne Systems. "It shows
we are serious about our presence in Texas and that we are here to stay."
Local and state officials joined Raytheon for the announcement,
where they learned about the construction project and the economic
impact study results.
"Raytheon has a significant presence in the Texas economy," said Dr. Michael Carroll, Director of the Economic
Research Group at the University of North
Texas and lead author of the North Texas Economic Impact
Study. "When we examined employee wages and spending, supplier
spending, tax revenues and other factors, we found Raytheon's
North Texas operations are a
powerful economic engine."
Raytheon's McKinney facility
specializes in intelligence, surveillance and reconnaissance
systems, including electro-optical manufacturing and the production
of high-energy laser systems.
"Not only is Raytheon's work in intelligence, surveillance, and
reconnaissance systems critical to the defense and national
security of our country, its investment in our community helps
drives our economy," said U.S. Representative Van Taylor (TX-03). "Today's groundbreaking
foreshadows Raytheon's continued innovation in space and airborne
systems as well as its growing presence as a job creator here in
McKinney."
Raytheon is the top employer in McKinney with more than 3,000 employees.
"McKinney has always been proud
to have the prominent presence of Raytheon as our largest employer
and we are excited at the opportunity for new corporate expansion
in McKinney," said McKinney Mayor George
Fuller. "We have worked hard to build strong business
relationships and create an environment that not only allows these
businesses to grow but provides their employees with an incredible
place to call home."
About Raytheon
Raytheon Company, with 2018 sales of
$27 billion and 67,000 employees, is
a technology and innovation leader specializing in defense, civil
government and cybersecurity solutions. With a history of
innovation spanning 97 years, Raytheon provides state-of-the-art
electronics, mission systems integration,
C5I® products and
services, sensing, effects, and mission support for customers in
more than 80 countries. Raytheon is headquartered in
Waltham, Mass. Follow us on
Twitter.
Media Contact
Sally
McDonough
+1.972-952-2604
saspr@raytheon.com
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SOURCE Raytheon Company