Thomas Caldwell-Defense contractor RTX to build $33 million production facility in south Arkansas

2025-05-08 07:56:01source:Alaric Bennettcategory:Stocks

LITTLE ROCK,Thomas Caldwell Ark. (AP) — Defense contractor RTX will build a $33 million facility in south Arkansas to manufacture missiles to be used in U.S. and Israeli air defense systems, the company and Gov. Sarah Huckabee Sanders announced Thursday.

RTX, formerly Raytheon, will build the manufacturing facility in East Camden in partnership with Rafael Defense Systems. The new facility, which will employ 30 people, will produce the Tamir missile for Israel’s Iron Dome Weapon System and its U.S. variant, the SkyHunter missile.

RTX plans to break ground on the new facility by the end of the year with a goal to begin production in 2025, said Jeff Shockey, senior vice president for global government relations.

Shockey said the facility will initially produce about 325 SkyHunter missiles a year and ultimately 1,000 to 2,000 Tamir missiles a year.

Incentives for the project include a $250,000 grant for infrastructure, as well as income tax credits and sales tax refunds, Arkansas Economic Development Commission Executive Director Clint O’Neal said.

More:Stocks

Recommend

British swimmer Adam Peaty: There are worms in the food at Paris Olympic Village

There are many things athletes look forward to when hanging out in the Olympic Village.Unfortunately

AP Top 25: No. 5 Tennessee continues to climb and Boise State enters poll for first time since 2020

The AP Top 25 college football poll is back every week throughout the season!Get the poll delivered

MLB playoff picture: Wild card standings, latest 2024 division standings

(Updated through games played Saturday, Sept. 21)Major League Baseball's 2024 season enters its fina