International. United Technologies Corp recently announced plans to hire 35,000 people and make investments of more than $15 billion in research and development (R&D) and capital expenditures (CapEx) in the United States over the next five years (2018-2022).
With this announcement, the company also launched a dedicated site to highlight its investments in the U.S.: www.utcinvestingintheusa.com
"United Technologies is growing globally and growing faster in the United States," said Gregory J. Hayes, president and CEO of United Technologies Corporation. Over the past three years, we've created more jobs in the U.S. That in the rest of the world combined."
"Our investments reflect our firm belief that, similar to U.S. economic goals, United Technologies' continued success will depend on a highly skilled workforce, world-class manufacturing facilities, and workforce education programs that enable employees to enhance their skills and remain competitive. an increasingly digital economy."
The company's investments will create additional capacity to better serve United Technologies' customers in the aerospace and commercial construction industries, which benefit from the mega trends of rapid urbanization, a growing middle class, and the growth of commercial air travel.
"We are excited about our significant employment and investment opportunities as more people have the purchasing power and desire to live in cities and fly commercially, and the expectation of living and working in smart buildings that make modern life possible," Hayes said.
United Technologies plans to invest $15 billion in R&D and CapEx projects in the United States over the next five years. About $9 billion of that investment is expected to go into R&D, which will include initiatives to accelerate the company's digital strategy. The strategy focuses on transforming service capabilities, improving the customer experience with smart products, driving optimization through smart factory adoption, and developing connected products that enable real-time health monitoring capabilities. It will also include work on next-generation additive manufacturing, artificial intelligence and autonomy, hybrid-electric, cybersecurity and the advancement of high-temperature materials.
The remaining $6 billion is expected to go toward CapEx initiatives that will drive innovation at existing manufacturing facilities in the U.S. to increase capacity and improve quality and efficiency.
