Raytheon leaving Massachusetts for new global headquarters

Raytheon leaving Massachusetts for new global headquarters

Raytheon Technologies is leaving Massachusetts and establishing a new world headquarters in Arlington, Virginia.

The aerospace and defense giant currently has 600 facilities in the U.S. in 44 states and territories. Each of the company’s four business units currently has operations in Virginia. The new world headquarters will be located in the Rosslyn neighborhood of Arlington along with its Intelligence and Space business.

“The location increases agility in supporting U.S. government and commercial aerospace customers and serves to strengthen partnerships that will drive innovative technologies to move the industry forward,” the company said in a statement. “Washington, D.C., serves as a convenient travel hub for the company’s global customers and employees.”

Raytheon emphasized that it has not accepted or sought any financial incentives to support the establishment of the new world headquarters.

“I commend Raytheon Technologies’ leadership and pledge that Virginia is committed to being a partner in their mission to build a more secure and connected world,” Virginia Governor Glenn Youngkin said. “With four of the top five U.S. aerospace and defense leaders now based in Virginia, this decision to be based in Arlington demonstrates that the Commonwealth is the ultimate destination for the aerospace and defense community.”

Raytheon’s relocation from Waltham, Massachusetts, comes about a month after competitor Boeing said it would move its world headquarters from Chicago to Arlington.

For 2022, Raytheon forecasts total sales between $67.75 billion and $68.75 billion, down from previous guidance of $68.5 billion to $69.5 billion and boosted by the shutdown. Of its business activities in Russia. Full-year 2022 adjusted earnings per share are expected to fall within $4.60 to $4.80 per share.

The company’s shares are up more than 12% year-to-date.


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Raytheon leaving Massachusetts for new global headquarters

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