Raytheon’s Peregrine missile is a small, fast, lightweight air-to-air weapon for use against drones, manned aircraft and cruise missiles.
Raytheon adds 1,000 jobs, has billion-dollar economic impact
Raytheon, one of the largest defense manufacturers in the world, is already the eighth-largest employer in Arizona. But because of the growing demand for its products and services, the manufacturing firm is expanding within the state.
The defense contractor hosted Gov. Doug Ducey at an event Oct. 2, announcing that the company will add another 1,000 jobs to the state economy over the next few years. The additional jobs will bring Raytheon’s total number of Arizona employees to roughly 14,000 and make it the state’s sixth-largest employer.
“We’ve consistently grown — we’re now at more than 13,000 employees statewide, and that’s due to increasing global demand for our products,” said John Patterson, director of public relations at Raytheon. “We’re at a period right now of unprecedented global demand for the products we make and the services we provide, and that’s reflected in increased hiring numbers and growth that you’re seeing across the board for us — in all of our programs and all of our product areas.”
According to a study by Arizona State University’s Seidman Institute, Raytheon generates a $2.6 billion annual economic impact in Arizona. Over the past three years, Raytheon’s economic impact has grown by $500 million — nearly 24 percent — due to job expansion and increased sales. As the company continues to expand in Arizona, so will its economic footprint.
“Remember that we have more than 500 suppliers statewide, and nearly half of them are located right there in Maricopa County,” Patterson continued. “So as we grow in Tucson, so does the work that we offer to our suppliers around the state, and that helps to create new jobs, it creates new revenues.”
The company has donated $1 million to philanthropic causes around the state. Raytheon employees volunteer thousands of hours every year in state classrooms, helping to tutor and mentor the next generation of engineers.
Patterson said Raytheon plans to continue hiring from the state’s universities, including Arizona State University, the University of Arizona, Northern Arizona University and Embry-Riddle Aeronautical University. In fact, later this year, Raytheon will be hosting its first ever “Raytheon Day” at NAU, sending company executives and recruiters to the campus for an in-depth recruitment experience.
The bulk of the company’s new jobs will be in engineering positions, but Patterson noted that the company is hiring for positions across the board, including supply chain and contract management.
In his statement at Raytheon, Ducey described the manufacturing firm as “one of our state’s most valuable assets.”
“We are grateful to Gov. Ducey for creating such a pro-business environment in the state,” Patterson said. “His pro-business policies have created an environment where companies like Raytheon have the confidence to invest and grow, and we see that as an excellent partnership.”
This story was originally published at Chamber Business News.