Global engineering and manufacturing giant Raytheon Co. (NYSE:RTN) is expanding its Albuquerque operations an adding 60 new manufacturing jobs. (Alex MacNaughton)
According to the governor’s office, the expansion of Raytheon’s Albuquerque manufacturing operations will create 60 new high-tech manufacturing jobs, adding to an on-site workforce of 200.
The 72,000-square-foot expansion includes office, laboratory and assembly, integration and testing structures, said Lorenzo Cortes, a spokesman with Raytheon. Cortes said the 60 jobs will come online over the next six years.
The state’s economic development department will provide $850,000 for the expansion through the Local Economic Development Act, LEDA, once the funds are approved by Albuquerque City Council. The city of Albuquerque is also providing $425,000 in LEDA funds for the expansion, according to the governor’s office.
“This is great news for New Mexico and another example of what’s possible when businesses know they’re welcome in our state,” said Martinez in a statement. “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.”
Acquired by Raytheon in 2011, the 103,000-square-foot Albuquerque site is located in Sandia Labs’ Science and Tech Park. The 300-acre technology community is meant to encourage innovation and technology transfer and to stoke teamwork among its nearly 40 resident companies.
“We’re thrilled that Raytheon continues to expand in Albuquerque,” said Mayor Richard Berry in a statement. “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.”
Sandia Labs’ Science and Tech Park has been a boon for attracting tech companies from around the nation to the Duke City.
Headquartered in Waltham, Massachusetts, Raytheon posted $24 billion in sales in 2016 and has 63,000 employees. The company states it specializes in defense, civil government and cybersecurity solutions.
“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, in a statement. “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.”