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United Technologies to invest $15 billion in US over next five years

United Technologies says it plans to hire 35,000 people and make investments of more than $15 billion in research and development and capital expenditures in the United States over the next five years.

The company also launched a dedicated site to highlight its investments in the US:

Gregory J. Hayes, chairman & CEO, United Technologies Corporation, says: “United Technologies is growing globally and growing the fastest in the United States. 

“Over the past three years, we have created more jobs in the US than in the rest of the world combined.

“Our investments reflect our core belief that, similar to US economic goals, United Technologies’ continued success will be dependent on a highly-skilled workforce, world-class manufacturing facilities, and workforce education programs that enable employees to improve their skills and remain competitive in an increasingly digital economy.”

The company’s investments will create additional capacity to better serve United Technologies’ customers in the aerospace and commercial building industries, which are benefitting from the mega-trends of rapid urbanization, a growing middle class, and the growth of commercial air travel.

Hayes says: “We are excited about our significant employment opportunities and investments as more people globally have the buying power and desire to live in cities and to fly commercially, and the expectation of living and working in smart buildings that make modern life possible.”

United Technologies is a Fortune 100 company. It employs more than 200,000 people in more than 75 countries developing innovative products and services for the aerospace and commercial building industries.

The company is a major US employer with 67,000 employees working in hundreds of sites today, and expects to have 35,000 positions available for US job seekers over the next five years.

Although most openings will result from workforce retirements or normal turnover, several thousand positions are expected to be net-new jobs that do not exist today.

The openings are expected to be available across all 50 states with the greatest hiring needs in Connecticut, Florida, and Georgia.

Half of United Technologies’ hiring is expected to be in production and maintenance roles, which involves the manufacturing, installation and servicing of the company’s vast array of products.

The other half will be professional and managerial positions with more than one-third filling a wide range of engineering and technology development roles, including many that reflect the company’s increased focus on digital innovation.

United Technologies believes that a diverse workforce produces the best ideas and outcomes for its customers, shareowners and communities around the world.

Over the last three years, one-third of the company’s new hires in the US were people of color. United Technologies is committed to achieving gender parity in our leadership workforce with a near-term goal of women holding at least 30 percent of senior roles.

Workforce training and education

United Technologies is also committed to preparing its US workforce for the future of work and advanced manufacturing.

In contrast to a recent report from Deloitte, which said that 54 percent of US companies have no training programs in place designed to build skills for future needs, United Technologies invests today in more than 30 US workforce training programs.

These programs include apprenticeships, community college and high school partnerships, digital certificate programs and an industry-leading, company-paid higher education program that has resulted in the award of more than 29,000 degrees to United Technologies’ US employees (average company contribution valued at $37,000 per participant).

$15 billion investment will drive innovation efforts

The competitive tax system resulting from US tax reform is encouraging global companies, such as United Technologies, to make long-term investments in innovation in America.

United Technologies anticipates investing $15 billion in R&D and capex projects in the US over the next five years.

About $9 billion of that investment is expected to go towards R&D that will include initiatives to accelerate the firm’s digital strategy.

The strategy is focused on transforming service capabilities, improving the customer experience with intelligent 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 towards capex initiatives that will drive innovation across existing US manufacturing facilities to increase capacity and improve quality and efficiency.