State offers incentives to Raytheon for local expansion

INDIANAPOLIS (WISH) – The State of Indiana has offered up to $4.4 million dollars in conditional tax credits and up to $400,000 in training grants to Raytheon, a defense contractor.

To earn the incentives, the company has to expand its Indianapolis operation. Company officials say they’re starting that expansion by moving 250 jobs to the local facility and renovating part of the building.

The 250 jobs are being moved from their other facilities in California and Virginia. The company is offering current employees the chance to apply for the positions, but they won’t necessarily get the jobs.

Gov. Mike Pence joined company officials Monday at the Indianapolis facility to announce the plans.

“Indiana is always a good decision, so we thank you, Raytheon, for choosing Indiana to grow and consolidate this great, global company,” Gov. Pence said.

After his speech, Raytheon employees showed Gov. Pence some of their products. Some of the technology can assist forces in aviation. Gov. Pence says those products have a future here.

“We have a great history in aerospace and also in the defense industry, but I think the best is yet to come in aerospace and in defense technology as a growing part of a growing Indiana economy,” Gov. Pence said.

According to a press release from the Indiana Economic Development Corporation, the incentives are performance based. The release states that, until Hoosiers are hired, the company is not eligible to claim incentives. The incentives are based on the company’s plan to create up to 349 jobs by 2020.