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July 19, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Pratt & Whitney investing up to $45M in Florida facility

Repercussions from the proposed merger between United Technologies Corp. and Raytheon Co. appear to be continuing, as UTC subsidiary Pratt & Whitney, the East Hartford jet-engine manufacturer, has announced plans to invest as much as $45 million over two years to overhaul its West Palm Beach facility.

Spending at the Florida facility began in 2018 and is scheduled to end in 2020. The investment is part of converting The West Palm Beach Engine Center from geared turbofan engine production to overhaul work.

The announcement comes a week after UTC and Raytheon announced its plans to merge, with the resultant company, Raytheon Technologies Corp., to be headquartered in the greater Boston area. Nearly all of UTC’s 19,000 employees are expected to remain in Farmington.

Soon after, UTC CEO and Chairman Gregory Hayes told Gov. Ned Lamont that Pratt & Whitney intends to make 1,000 new hires in Connecticut “over the next few years” and that Otis Elevator will remain in Connecticut after UTC splits into three independent companies by the first half of next year. “They are already hiring new employees for their headquarters in Farmington,” Lamont said.

While Lamont had no immediate comment on the West Palm Beach announcement, Republican Senate Minority Leader Len Fasano took it as “another sign of a missed opportunity for Connecticut. UTC has made it clear that they believe their future is dependent on growth in other states. They are investing their capital in Massachusetts and Florida, and jobs follow where you put your capital.”