`

Raytheon reaches $5.4 million incentive deal with state

March 9, 2015

Raytheon Technical Services Co. LLC has reached an agreement with the state to receive more than $5.4 million in tax breaks and other incentives to help it expand its Indianapolis operations, Indiana economic development officials announced Monday afternoon.

The division of Waltham, Massachusetts-based defense and aerospace contractor Raytheon Co. plans to add another 249 workers to its existing work force of 912 in Indianapolis by the end of 2020. As IBJ reported earlier Monday, many of those jobs will be moved from Raytheon plants in Chula Vista, California, and Norfolk, Virginia.

Raytheon plans to invest about $26.3 million in its local facility at 6125 East 21st St., according to the Indiana Economic Development Corp. The IEDC said the jobs number could rise to as many as 349.

It will be the biggest work force expansion for the company since it took over the facility formerly known as the Indianapolis Naval Ordnance plant in 1998. Work at the facility focuses on areas of depot support, including modernizing and upgrading the capabilities of military platforms, systems engineering and systems installation.

The facility develops soldier-worn computers and provides weapons-system sustainment, supply-chain management and systems engineering, among other services.

"The work Raytheon does in Indianapolis supports some of the most critical missions for the U.S. military and for our allies around the world," said Dave Wajsgras, president of Raytheon Intelligence Information and Services in a written statement.

The IEDC offered Raytheon up to $4.4 million in conditional tax credits and up to $400,000 in training grants based on the company's investment and job-creation plans.

In addition, the IEDC will provide the city of Indianapolis with up to $1 million in infrastructure assistance for Raytheon from the state's Industrial Development Grant Fund.

Raytheon employs more than 1,500 Hoosiers at Indiana locations in Indianapolis and Fort Wayne. The company has 278 suppliers in Indiana.

Overall, Raytheon employs about 61,000 employees worldwide and had 2014 sales of $23 billion.
 

ADVERTISEMENT

Recent Articles by IBJ Staff

Comments powered by Disqus