Raytheon To Move Global Headquarters From MA To Virginia

WALTHAM, MA — On Tuesday, Raytheon Technologies said it plans to move its global headquarters from Massachusetts to Arlington, Virginia.

After spending the last 100 years based in Massachusetts, Raytheon will now be among the five largest defense companies in the National Capital Region of the country.

The move to the D.C. area was initiated by CEO Greg Hayes in an attempt to reorganize the firm since Raytheon's merger with United Technologies in 2020.

Shares of Raytheon Technologies Corp. RTX, 0.78% fell 0.4% in morning trading Tuesday, after the announcement of the new headquarters hit the press, receiving negative reactions from the decision along with a negative comment from credit rating agency S&P Global Ratings, Marketwatch reported.

But Raytheon says the move is a more strategic one, saying in part, "The location increases agility in supporting U.S. government and commercial aerospace partners and serves to reinforce partnerships that will progress innovative technologies to advance the industry."

Spokesman Chris Johnson told the Boston Globe that the move will take place in the third quarter of the year and the company will keep its Waltham corporate office, and there would not be a net increase in employment in Arlington as a result. Johnson said most of the employees centered at the Waltham location are working remotely or on a hybrid-remote schedule.

Raytheon's intelligence and space business is already based in the Rosslyn neighborhood of Virginia, where the new corporate headquarters will be located.

"Washington, D.C., serves as a convenient travel hub for the company's global customers and employees," Raytheon continued.

Last month, Boeing moved its headquarters from Chicago to Arlington as well, citing a move to push leadership at the company close to key government officials and lawmakers in the capital. The Pentagon remains Boeing's major customer on the defense side, the Seattle Times reported.

Raytheon is the second-largest defense contractor in the United States and was first founded in 1922 and has been based in Waltham since. According to its website, the company has 600 facilities across most of the country, including Virginia.