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Tag: Arlington

Raytheon moving global HQ to Arlington

Raytheon Technologies Corp. announced June 7 that it will relocate its global headquarters from Massachusetts to Arlington in the third quarter of this year, a move that will make four of the top five U.S.-based aerospace and defense contractors headquartered in Virginia. Raytheon is the second-largest defense company in the world, just below Bethesda, Maryland-based Lockheed Martin Corp., and will be the commonwealth’s largest aerospace and defense contractor.

The news follows a May announcement that the world’s third-largest defense contractor, Chicago-based The Boeing Co., is also moving its global headquarters to Arlington. Raytheon and Boeing join Falls Church-based Northrop Grumman Corp. and Reston-based General Dynamics Corp., which rank fourth and fifth respectively among the world’s largest defense contractors.

Raytheon’s new headquarters will be in Arlington’s Rosslyn neighborhood, near the company’s existing Raytheon Intelligence & Space business there. Raytheon has not sought or accepted financial incentives from the state, the company noted in a release. A spokesperson said that Raytheon expects to “slightly expand the scope of our existing leased space in Arlington,” where 130 corporate staff members currently work. Chris Johnson, senior director of global media relations, says that the company does not expect its corporate staff to increase significantly.

In a statement, Gov. Glenn Youngkin said, “I commend Raytheon Technologies’ leadership and pledge that Virginia is committed to being a partner in their mission to build a safer, more connected world. With four of the top five major U.S. aerospace and defense leaders now based in Virginia, [Raytheon’s] decision to headquarter in Arlington demonstrates the commonwealth is the best destination for the aerospace and defense community.”

Raytheon has 600 facilities in 44 states and territories, and all four of its business units have operations in Virginia, where it has more than 1,000 employees and is a top employer in Loudoun County and Falls Church. The company, which employs more than 180,000 people worldwide, reported $64.38 billion in 2021 sales. Raytheon Technologies formed in 2020 following the merger of Raytheon Co. with the aerospace business of United Technologies Corp.

“We are thrilled to welcome Raytheon Technologies’ global headquarters to Virginia, America’s corporate hometown,” Virginia Economic Development Partnership President and CEO Jason El Koubi says. “Raytheon Technologies’ global headquarters location will reinforce strategic partnerships and further strengthen Virginia’s aerospace and defense ecosystem in areas like avionics, cybersecurity, directed energy, electric propulsion, hypersonics and quantum physics.”

Leonardo DRS, Israeli company to merge

Arlington-based Leonardo DRS Inc., a subsidiary of Italian defense contractor Leonardo SpA, and Israel-based Rada Electronic Industries Ltd. have entered into a definitive agreement to merge and become a combined public company later this year, the contractors announced Tuesday.

Rada will become a wholly-owned subsidiary of Leonardo DRS, and the new company will be listed on the New York Stock Exchange and Tel Aviv Stock Exchange under the symbol “DRS.” The transaction is expected to close in the fourth quarter.

Combined, the two entities had $2.7 billion of revenue in 2021, according to a news release. At the end of the first quarter, the combined companies had $197 million. Leonardo DRS will acquire 100% of the share capital in Rada in exchange for about 19.5% ownership to Rada stockholders. Each of the companies’ boards of directors approved the transaction.

After closing, Rada will become a wholly-owned Israeli subsidiary of Leonardo DRS and operate as a business unit within DRS’s Advanced Sensing and Computing segment.

Leonardo DRS and Rada have worked together in the past and together they will work across a portfolio of defense products, including advanced sensing, force protection, network computing, electrical power and propulsion.

“The combination of Rada’s tactical radar capabilities and Leonardo DRS’ strength as a premier mid-tier defense provider make the combined company a leader in the rapidly growing force protection market, increases our addressable market, expands international opportunities and ultimately unlocks value for shareholders,”  Leonardo DRS  CEO William J. Lynn III said in a statement. “The transaction also provides flexibility for the combined company to add capabilities in Leonardo DRS’ core markets through targeted acquisitions and strategic investments as we expect to supplement strong organic growth with M&A as part of our overall strategy going forward.”

The deal comes months after Leonardo DRS announced plans to sell off its satellite business. The company was on the verge of going public before its parent company hit the pause button in March due to “adverse market conditions.”

Leonardo DRS, formerly DRS Technologies Inc., produces electronic defense systems in three divisions: advanced sensor technologies, network computing and communications, and integrated missions systems.

“The conflict in Ukraine has underscored the vulnerability of forces to drone attacks and has highlighted the need for modern, capable force protection systems,” Lynn said in a statement. “Not only is this accelerating U.S. purchases of these systems, but it is moving European countries, which are considerably behind in this area, to acquire more critical force protection assets. The combination of Rada and Leonardo DRS will open international market opportunities, particularly in short-range air defense, counter-UAS, counter rockets, artillery and mortars (C-RAM) and vehicle protection systems.”

Lynn will still head the company. and the head of Rada in Israel is expected to continue to run the business but as part of Leonardo DRS, a spokesman said.

Amazon HQ2’s Ardine Williams retires — again

Ardine Williams, vice president of HQ2 workforce development for Amazon.com Inc., has retired — again — Amazon confirmed this week. 

Williams, who had been one of Amazon’s most high-profile Virginia executives, was leading the effort to hire 25,000 workers by 2030 for Amazon’s multibillion-dollar HQ2 East Coast headquarters in Arlington. So far, about 5,000 HQ2 workers have been hired, as of April.

Williams retired from Amazon within the past few weeks, and a replacement has not yet been named, an Amazon spokesperson told Virginia Business. She could not be immediately reached for comment.

The HQ2 executive went to work for Amazon in 2014 as vice president, Amazon Web  Services, Global Talent Acquisition, after initially retiring from Intel Corp., where she had served as vice president of HR enterprise services.

In a January 2020 interview with Virginia Business, Williams described how Amazon lured her out of retirement just five months after she left Intel. First, she worked in recruiting for Amazon Web Services, then, in 2017, she became vice president, people operations, for Amazon’s global human resources. Following Amazon’s 2018 announcement that it would be building its East Coast headquarters in Virginia, Williams was named vice president of HQ2 workforce development.

From 2018 until the COVID-19 pandemic hit, Williams often served as the public face of Amazon HQ2.

Undertaking a series of well-publicized listening tours around Virginia in 2019, she met with state and local officials, school superintendents, chambers of commerce, and other organizations. One of the tours took her through Southwest Virginia with then-Gov. Ralph Northam to promote workforce development. She also addressed a crowd of about 5,000 job seekers during a September 2019 career fair Amazon held in Arlington.

Before joining Amazon, Williams worked in multiple roles for Intel Corp. from 1997 to 2014. She also worked for Hewlett Packard and Behring Co.

Prior to that, she served in the U.S. Army, working technology jobs in the Signal Corps before being attached to DARPA (the Defense Advanced Research Projects Agency). While at Amazon, she was recognized for her work supporting job recruitment for military veterans and their spouses.

Boeing partners with Va. Tech on veterans’ center

When Virginia Tech’s $1 billion Innovation Campus opens in Alexandria in 2024, it will include a hub to connect veterans and their families with career resources and employment opportunities. It will also carry the name of one of the commonwealth’s largest defense contractors, The Boeing Co.

The Boeing Center for Veteran Transition and Military Families, announced Monday at the company’s Arlington headquarters, is a partnership between the world’s third-largest defense contractor, the state and Virginia Tech. Support for the center comes from a record $50 million donation Boeing made to Virginia Tech in 2021 to support diversity at the graduate campus. Virginia Gov. Glenn Youngkin and U.S. Sens. Tim Kaine and Mark Warner all attended Monday’s announcement.

Boeing in May announced the move of its global headquarters from Chicago to its existing 4.7-acre campus in Arlington’s Crystal City. For a brief time, it will be Northern Virginia’s largest defense contractor; Raytheon Technologies Corp., the world’s second-largest aerospace and defense contractor, announced in early June that it will shift its corporate headquarters from Massachusetts to Arlington’s Rosslyn neighborhood in the third quarter, where its Raytheon Intelligence & Space business is located.

Boeing CEO Dave Calhoun, a Virginia Tech alumnus, acknowledged the clustering of scientific research occurring in Northern Virginia at Monday’s announcement, referring to it as an “innovation corridor,” as he announced the new center.

“The fact that it is close by and within driving distance of the policymaking capital of the world with respect to technology, I think someday that’s going to matter a lot,” Calhoun said, referring to the Innovation Campus.

About 20% of Boeing’s defense business “is built on the back of veterans,” Calhoun added.

Moreover, Virginia is home to a large population of active and former military members, Youngkin said, including about 725,000 veterans as well as 150,000 active duty, National Guard members and reservists. The center will work with the state’s veterans and defense affairs secretariat, and the Virginia Department of Veterans Services will help staff the facility, the governor’s office said.

“I’m biased, I want them to stay in Virginia,” said Youngkin, who was a founding member of Virginia Tech’s Innovation Campus advisory board before running for governor. Calhoun remains on the board.

Academic Building 1 of Virginia Tech’s Innovation Campus is projected to open in August 2024. Rendering courtesy Virginia Tech
Academic Building 1 of Virginia Tech’s Innovation Campus is projected to open in August 2024. Rendering courtesy Virginia Tech

Details about the veterans’ center, including its size, are still being worked out, Virginia Tech President Tim Sands said Monday, and he did not give specifics about how much of Boeing’s $50 million donation would be dedicated to it. Transitioning veterans looking to gain technology skills will be part of of Tech’s initial focus for the center, Sands said, adding that they will have access to certificate and master’s programs.

In September 2021, Virginia Tech held a groundbreaking ceremony for the campus’s $302 million Academic Building 1, which is expected to open in August 2024. The campus will anchor a 65-acre innovation district in Alexandria and is a major player in the state’s Tech Talent Investment Program. Created as part of Virginia’s successful bid to attract Amazon.com Inc.’s $2.5 billion-plus HQ2 East Coast headquarters under development in National Landing, the Tech Talent Investment Program aims to produce 31,000 in-demand computer science and computer engineering graduates during the next two decades, through a cooperative program with 11 Virginia universities.

“We’re looking forward to veterans not only being part of the student cohorts, but actually bringing their connections, their experience into the classroom,” Sands said. The center will also provide the university with opportunities for researching the needs of military families as they transition to civilian life.

Boeing’s May announcement also included news that the contractor would establish a research and technology hub in the region. Boeing spokesperson Connor Greenwood said Monday that details were being worked out. “It’s a concept that we are working on.”

Beyond the veterans’ center, Boeing will play a significant role at the Innovation Campus, Sands said, calling it one of “their major footprints.”

“The part of it that I can share is that Boeing is deeply engaged in the research and the student programs at the Innovation Campus … Boeing will have a significant presence in the Innovation Campus, especially around project-based learning,” Sands said. “So we’re bringing authentic projects from our partners, including Boeing, into the learning environment, and they will be deeply engaged in that.”

 

Raytheon moving global HQ to Arlington

Raytheon Technologies Corp. announced Tuesday that it will relocate its global headquarters from Massachusetts to Arlington in the third quarter of this year, a move that will see four of the top five U.S.-based aerospace and defense contractors headquartered in Virginia. Raytheon is the second-largest defense company in the world, just below Lockheed Martin, and will be the commonwealth’s largest aerospace and defense contractor.

Raytheon’s new corporate headquarters will be in Arlington’s Rosslyn neighborhood, near  company’s existing Raytheon Intelligence & Space business located there. Raytheon has not sought or accepted financial incentives from the state, it said in a release. A spokesperson said that Raytheon expects to “slightly expand the scope of our existing leased space in Arlington,” where 130 corporate staff members currently work. Chris Johnson, senior director of global media relations, said that the company does not expect its corporate staff to increase significantly as a result of the move.

“I commend Raytheon Technologies’ leadership and pledge that Virginia is committed to being a partner in their mission to build a safer, more connected world,” Gov. Glenn Youngkin said in a statement. “With four of the top five major U.S. aerospace and defense leaders now based in Virginia, [Raytheon’s] decision to headquarter in Arlington demonstrates the commonwealth is the best destination for the aerospace and defense community.”

Raytheon has 600 facilities in 44 states and territories, and all four of its business units have operations in Virginia, where it has more than 1,000 employees and is a top employer in Loudoun County and Falls Church. The company, which employs more than 180,000 people worldwide, reported $64.38 billion in 2021 sales. Raytheon Technologies formed in 2020 following the merger of Raytheon Co. with the aerospace business of United Technologies Corp.

Raytheon’s announcement comes after The Boeing Co. said in May that it would move its global headquarters from Chicago to Arlington. The world’s third-largest defense contractor joins Falls Church-based Northrop Grumman Corp. and Reston-based General Dynamics Corp., which rank fourth and fifth respectively among the world’s largest defense contractors.

Raytheon Chair and CEO Gregory J. Hayes was elected chairman of Raytheon’s board in 2021 and worked for nearly 21 years at UTC in several senior roles across finance, corporate strategy and business development. He was appointed UTC CEO in 2014 and named chair in 2016 and led UTC’s reshaping into a company focused on aerospace, spinning off Otis Elevator Co. and Carrier Global Corp. in 2020. He led UTC’s merger, including its remaining aerospace businesses, Pratt & Whitney and Collins Aerospace Systems, to form Raytheon Technologies in April 2020. Hayes received his bachelor’s degree from Purdue University, in Indiana, and is a certified public accountant.

“We are thrilled to welcome Raytheon Technologies’ global headquarters to Virginia, America’s corporate hometown,” Virginia Economic Development Partnership President and CEO Jason El Koubi said in a statement. “Raytheon and other leading firms are attracted to the commonwealth’s world-class talent, dynamic industrial and innovation ecosystem, strategic location, global connectivity and exceptional quality of life. Raytheon Technologies’ global headquarters location will reinforce strategic partnerships and further strengthen Virginia’s aerospace and defense ecosystem in areas like avionics, cybersecurity, directed energy, electric propulsion, hypersonics and quantum physics. We look forward to a continued partnership with Raytheon Technologies as we begin this exciting new chapter.”

Shannon Flanagan-Watson, interim director for Arlington Economic Development, said, “Raytheon’s announcement, as well as that of Boeing last month, show that more companies are choosing Arlington for their headquarters. Our skilled, highly-educated workforce, key investments in public infrastructure and our exceptional tech ecosystem are factors companies desire when locating a company. We welcome Raytheon’s global headquarters and look forward to their continued presence in Arlington.”

Raytheon Technologies traces its origins to the 1922 founding of Raytheon Co. in Cambridge, Massachusetts. Raytheon became the supplier of magnetron tubes, essential in the Britain’s air defense, to the Allies during World War II. Today, Raytheon businesses provide the U.S. Navy’s F/A -18 fighter jets with precision weapons, radars, sensors and other systems.

In April, Raytheon Missiles & Defenses received a $483 million contract from the Navy to activate, sustain and modernize the service’s fleet of three Zumwalt class of guided missile destroyers. The contract includes options that, if exercised, will total $1.68 billion over five years. The contract also includes additional design, integrations, test and evaluation and other services for the Zumwalt, a stealth destroyer that has been beset by development problems.

Raytheon manufactures Stinger anti-aircraft missiles, which the U.S. is providing to Ukraine in its defense against invading Russian forces. In May, Raytheon won a $624 million U.S. Army contract to produce 1,300 more of the Stinger missiles. The contract is being funded through a provision of the Additional Ukraine Supplemental Appropriations Act.

Amazon closes $198M PenPlace purchase from JBG Smith

Amazon.com Inc. has acquired the 11-acre PenPlace development site,  part of its HQ2, its East Coast headquarters, from Bethesda, Maryland-based JBG Smith Properties for $198 million, JBG Smith announced Monday.

Arlington County in April approved the 3.3 million square feet of office space spread across three 22-story buildings and Amazon’s planned spiral “Helix” building, including 100,000 square feet of retail and 2.5 acres of open space. It is bordered by Army Navy Drive, South Eads Street, 12th Street and South Fern Street. PenPlace is the second phase of Amazon’s HQ2 East Coast headquarters, following the first phase, Metropolitan Park. PenPlace will also have a 20,000-square-foot Arlington County High School and a daycare.

“As we saw with the sale of Metropolitan Park to Amazon in 2020, finalizing this deal allows us to move forward with our partners, realize Amazon’s vision and complete its second home here in the region,” JBG Smith CEO Matt Kelly said in a statement. Metropolitan Park and PenPlace will bring exciting new amenities to the broader neighborhood including public parks, dynamic retail, and infrastructure improvements.”

Metropolitan Park has two 22-story office buildings, 50,000 square feet of retail space, a roughly 2-acre park space and a 700-meeting center that community groups will be able to use for free.

Amazon and JBG Smith also “topped out” the 22nd and final level of Metropolitan Park, JBG Smith announced Monday. The two buildings are scheduled to be completed next year. Amazon’s HQ2 already has 5,000 workers. Amazon’s more than $2.5 billion investment in HQ2 will result in 25,000 jobs over the next decade.

Boeing will move global HQ to Arlington

The Boeing Co., the world’s third-largest defense contractor, is moving its global headquarters from Chicago to Arlington, the company announced May 5.

With more than 141,500 employees worldwide and operations in more than 65 countries, the aerospace and defense company will be the largest defense contractor headquartered in Virginia.

Boeing already employs 400 people at its 4.7-acre campus in Arlington’s Crystal City — near Amazon.com Inc.’s HQ2 and Virginia Tech’s Innovation Campus. Boeing spokesperson Paul Lewis told Virginia Business that there will be “no major job relocations” accompanying the headquarters move. Boeing also plans to develop a research and technology hub in the area, leveraging a $50 million gift to Virginia Tech that Boeing made in May 2021, according to another company spokesperson, Connor Greenwood. Boeing did not provide details such as a time frame for the move or how much the company is investing.

In a statement following the announcement, Boeing CEO Dave Calhoun, a Virginia Tech alumnus, thanked Gov. Glenn Youngkin and U.S. Sen. Mark Warner for helping to secure the deal, which The Wall Street Journal reported had been in the works for months.
In 2017, Boeing moved its defense unit from St. Louis to Arlington to be closer to the federal government and Pentagon officials.

“We are excited to build on our foundation here in Northern Virginia,” Calhoun says. “The region makes strategic sense for our global headquarters, given its proximity to our customers and stakeholders and its access to world-class engineering and technical talent.”

Youngkin says the move shows Virginia “is the premier location for aerospace companies.”

Virginia Economic Development Partnership President and CEO Jason El Koubi agrees. “Boeing and other high-caliber firms are attracted to the commonwealth’s combination of diverse, world-class engineering and tech talent, strategic location and exceptional quality of life,” El Koubi says. “Boeing’s new research and technology hub will further strengthen Virginia’s innovation ecosystem in areas like cybersecurity, autonomous operations, quantum sciences and software and systems engineering.”

Boeing also has research centers in St. Louis; Huntsville, Alabama; Charleston, South Carolina; and Cambridge, Massachusetts. A Boeing aeronautics research subsidiary, Aurora Flight Sciences, is located in Manassas. Boeing’s new Arlington-area research center will provide the company “with the ability to develop technology and talent, and see its implementation in real systems,” Lewis says.

Virginia Business Associate Editor Courtney Mabeus contributed to this article.

Iridium taps Boeing exec for board

McLean-based satellite network operator Iridium Communications Inc. announced that Boeing executive Kay Sears has been elected to its board of directors.

“We are fortunate to have such an accomplished executive with a keen understanding of our industry join our Board of Directors,” Iridium CEO Matt Desch said in a statement. “Kay has a finger on the pulse of the industry, and we look forward to her helping further the Iridium mission as we continue this era of strong subscriber growth and increasing free cash flow.”

Sears serves as vice president and general manager of autonomous systems for The Boeing Co.’s Boeing Defense, Space and Security unit, which she joined in February. In this role, Sears oversees development of autonomous technologies, intelligence capabilities and networking solutions. Boeing, the world’s third-largest defense contractor, announced May 5 that it is relocating its global headquarters to Arlington from Chicago.

Before joining Boeing, Sears worked as vice president and general manager of Lockheed Martin’s Military Space unit, and before that, she was vice president of strategy and business development. Sears previously was president of Intelsat General Corp. She also served as a senior vice president for PanAmSat Corp.

Sears holds a bachelor’s degree in business and economics from the University of Richmond and an MBA in information systems from The George Washington University.

Iridium operates a constellation of 66 satellites providing communications services such as broadband, voice and data communications. The company reported total 2021 revenue of $614.5 million.

Cortland to invest $1B in Arlington apartments

Cortland, an Atlanta-based multifamily real estate investment, development and management company, will invest $1 billion in four Arlington apartment communities totaling more than 1,500 units, marking the company’s reentry into the metro Washington, D.C., market.

The four properties include the 331-unit Aubrey apartment building — rebranded by Cortland as Cortland Rosslyn — and the 534-unit Aura Pentagon City — now renamed Cortland Pentagon City — as well as two other apartment communities not disclosed by Cortland.

“Northern Virginia is a highly coveted location that is already seeing a rebound in growth as residents move back to the urban core,” Cortland’s chief investment officer, Mike Altman, said in a statement. “This is just the start of Cortland’s investment in the region, driven by our commitment to deliver an unrivaled resident-centric, hospitality-driven experience that is changing the standard of apartment living.”

Cortland Pentagon City, a 534-unit apartment building previously branded as Aura Pentagon City, is across the street from Amazon HQ2.

Cortland Rosslyn has three-bedroom apartments, penthouses, two-level townhomes, a rooftop sky lounge and pool. Completed in 2021, it was developed by D.C.-based Penzance Cos. and is part of The Highlands, a luxury residential development in Arlington.

Cortland Pentagon City is situated across from Amazon.com Inc.’s HQ2.

“The combination of these investments allows us to gain a strong foothold in the region at a strategic time, based on our proprietary analysis of market trends. Cortland Rosslyn is a trophy asset, and we plan to match that with Cortland’s value-add capability in our other new communities,” Altman said.

Cortland owns and manages more than 250 apartment communities with about 85,000 units across the country. The company has regional offices in Texas, North Carolina, Florida and Colorado.

“Cortland plans to double its investment in the area with the goal of becoming a top player in the market in the near future,” the company said in a news release.

Arlington national security tech firm hires CIA vet

Arlington-based Two Six Technologies has hired Elizabeth “Beth” Kimber, who formerly oversaw the Central Intelligence Agency’s network of spies, as vice president of intelligence community strategy, the national security tech firm announced this week.

Kimber spent 37 years in the CIA and was the first woman to serve as the agency’s deputy director for operations. In that role, she oversaw worldwide human intelligence operations and networks, as well as foreign intelligence collection and covert missions.

“I’m excited to announce the addition of Beth Kimber to our leadership team,” CEO Joe Logue said in a statement. “Beth’s expertise and exceptional knowledge of mission needs will help Two Six accelerate our delivery of technological superiority to our nation, allies, and partners through rapid, impact focused innovation.”

Kimber spent 18 years at the CIA in field operations, including chief of station and as representative to the director of National Intelligence. She also served as acting deputy director, was the first assistant director for Europe and Eurasia and deputy director of the National Clandestine Service. She has a bachelor’s degree in history and French from Hamilton College in New York and is a graduate of Harvard Business School’s Advanced Management Program.

“Two Six Technologies is a unique company focused on addressing some of the most critical and challenging threats to U.S. national security,” Kimber said. “I am thrilled to join the team to help deliver the innovative technologies urgently needed by our defense, intelligence and operational customers.”

Two Six Technologies provides technology solutions serving national security customers and employs more than 500 people with a technical presence in more than 40 countries. The company was started in 2021 by investment firm The Carlyle Group. Virginia Gov. Glenn Youngkin served as co-CEO of Carlyle until retiring in 2020.