New Report Shows Company Has $2.6 Billion Impact To Arizona
PHOENIX — Governor Doug Ducey today joined Raytheon Missile Systems executives and Arizona Commerce Authority President and CEO Sandra Watson along with business and community leaders to announce Raytheon's 1,000 jobs expansion in Southern Arizona. The event also highlighted the release of a new report conducted by Arizona State University’s Seidman Institute detailing Raytheon's $2.6 billion economic impact to Arizona.
“Raytheon is one of our state’s most valuable assets,” said Governor Ducey. “This high-tech powerhouse is a major jobs creator, and its products help to defend freedom around the globe. Arizona will continue to foster a pro-growth tax and regulatory environment that allows Raytheon to thrive in our state for years to come.”
“Raytheon’s continued growth in Arizona is having a substantial, positive effect around the state,” said Raytheon Missile Systems President Wes Kremer. “With nearly 13,000 employees now working in Arizona and a strong, statewide network of more than 500 suppliers, the company provides a significant boost to Arizona’s economy.”
The latest study shows Raytheon’s annual impact across Arizona has grown by more than $500 million in the last three years. Increased sales, new hiring and additional infrastructure have helped to fuel the increase.
In 2018, Raytheon executives along with federal, state and local leaders formally dedicated six new buildings at the company’s Tucson plant site. The company has since completed infrastructure expansion and hired more than 2,000 new workers. Raytheon plans additional hiring over the next three years, as well as investments and improvements in manufacturing, engineering technology and facilities infrastructure in order to meet growing customer demand.
Raytheon employees volunteer thousands of hours annually in Arizona classrooms, tutoring students in math and science. The company sponsors numerous outreach efforts to help spark student interest in science, technology, engineering and math. Raytheon also supports military veterans and their families through various programs.
As Raytheon continues to grow in Arizona, so will the company’s need for top talent. Raytheon is investing in statewide programs designed to help cultivate STEM skills that lead to rewarding careers for Arizona’s future innovators.