Raytheon announced on Thursday that the company will begin building a 200,000-square-foot facility supporting 500 new high-tech jobs at its Space and Airborne Systems headquarters in McKinney, Texas.
“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,” he added.
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.
Local and state officials joined Raytheon for the announcement, where they learned about the construction project and the economic impact study results. Construction of the facility will be completed in late 2020.
“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.”
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, C5IÂ products and services, sensing, effects and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Mass.