NM: Raytheon to Invest $10M, Add 60 High-Tech Mfg Jobs in Albuquerque
17 Aug, 2017
Governor Susana Martinez announced the expansion of Raytheon's Albuquerque manufacturing operations which will create 60 new high-tech manufacturing jobs. This announcement comes on the heels of New Mexico being ranked the third-fastest growing economy in the nation by the U.S. Department of Commerce. New Mexico was also recently ranked seventh in the nation for private-sector job growth - creating nearly 19,000 new private-sector jobs over the last year.
"This is great news for New Mexico and another example of what's possible when businesses know they're welcome in our state," said Governor Martinez. "We've seen it over and over again - when we commit to reforms and tools that make us more competitive and business friendly, companies from around the nation and the world take notice - and choose New Mexico to invest and create jobs."
The expanded operations will support the development and production of directed energy systems, range monitoring systems, and telemetry systems for U.S. and coalition partners. The newly created jobs will include program management positions, engineering, and other technical jobs. "We're thrilled that Raytheon continues to expand in Albuquerque," said Mayor Richard J. Berry. "I am pleased that they have been able to take advantage of our great workforce and through their strategic location at the Sandia Science and Technology Park they are able to take advantage of potential collaborations with the world's finest scientists."
Acquired by Raytheon in 2011, the Albuquerque site currently supports the production of high-powered microwave directed energy technology and aircraft range monitoring systems. Nearly 200 employees presently work on site.
"This workforce expansion enables Raytheon to develop some of the most advanced technologies and capabilities that keep our warfighters and our nation ahead of the threat," said Dr. Taylor W. Lawrence, Raytheon Missile Systems president. "Our strong partnerships with the State of New Mexico and the City of Albuquerque give Raytheon an edge in innovating and winning programs that help grow our local operations."
New Mexico will provide $850,000 for the expansion through the state's closing fund, known as LEDA, pending final approval by the Albuquerque City Council. LEDA is New Mexico's closing fund, which helps recruit new businesses to our state while helping those that are already here grow and thrive. Nearly zeroed out when Governor Martinez took office, she fought to grow this important tool to more than $56 million. In addition to the $850,000 in LEDA funding from the State of New Mexico, the City of Albuquerque will commit $425,000 in LEDA funding to the project.
This news follows Governor Martinez's recent announcement that New Mexico is a national leader in economic growth. According to the U.S. Department of Commerce, New Mexico's economy was the third-fastest growing in the country through 2017 so far. New Mexico also recently saw its largest over-the-year private-sector job growth in more than a decade, with nearly 19,000 new jobs since this time last year - in the top 10 nationally.
Additionally, Governor Martinez recently announced that Facebook will double its investment in New Mexico - bringing its total commitment to New Mexico to half a billion dollars, with the potential to support more than 100 full-time jobs, and as many as 1,000 workers onsite during peak construction. Governor Martinez's reforms continue to help companies from all across the country and the world grow and thrive in New Mexico - like Facebook, FedEx, Safelite Autoglass, Raytheon, RSI and Keter Plastic.
Homegrown New Mexico companies are growing and thriving across the state as well - like Skorpios, Descartes Labs, Risksense and many others. Raytheon Company, with 2016 sales of $24 billion and 63,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 95 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5ITM products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Massachusetts.
Visit the New Mexico Economic Development Department online at www.gonm.biz.