Investing in the USA
United Technologies makes modern life possible for billions of people by solving the big challenges of an urbanizing world. To meet these challenges, we make investments across the globe – when and where it makes the most sense for our customers and our long-term growth strategy. In recent years we’ve been growing the fastest in the United States. With increasing customer demand, we plan to hire up to 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 (2018-2022). We also plan to spend an additional $75 billion with U.S. suppliers that provide products and services to our operations.
Our four businesses with their iconic brands — Otis, Pratt & Whitney, UTC Aerospace Systems, and UTC Climate, Controls & Security — are united to invest in the United States and around the world.
U.S. Key Facts
with U.S. suppliers
3 territories +
Investing in U.S. Jobs
UTC is hiring in the United States. We are growing, and we expect to have up to 35,000 positions available for U.S. job seekers over the next five years. Although most openings will result from work force retirements or normal turnover, several thousand of these positions will be net-new jobs that don’t exist today. Half of the hiring will be in production and maintenance roles. The other half will be professional and managerial positions, with more than one-third in a wide range of engineering and technology development roles, including many that reflect our increased focus on digital innovation.
Investing in Innovation and
the next five years
UTC’s investment and spending in the United States over the next five years is expected to top nearly $90 billion. We plan to invest $15 billion in research and development and capital expenditure to transform service capabilities, improve the customer experience, enable smart factories, and develop connected products. Our investments also will focus on other key areas to drive our business forward, such as next-generation additive manufacturing, artificial intelligence, autonomy and cybersecurity—all aimed at better serving our customers.
We partner with thousands of small and medium businesses. Over the next five years, we are projected to spend about $75 billion with U.S. suppliers, further bolstering local economies and supporting job creation across hundreds of communities.
Investing in the Future of Work
At UTC, we are committed to preparing our employees for the future of work and advanced manufacturing. Today we invest in more than 30 U.S. workforce training programs that enable employees to grow their skills and remain competitive in an increasingly digital economy.
These programs include apprenticeships, community college and high school partnerships, and digital certificate programs. We also provide an industry-leading, company-paid higher education program that has resulted in the award of more than 29,000 degrees to our U.S. employees.
United Technologies is a global leader in the building systems and aerospace industries. Our company was founded by some of the world’s greatest inventors. Guided by consistent values, United Technologies combines performance with innovation to create smart, sustainable solutions that make cities greener, people more secure and travel more efficient.
This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. From time to time, oral or written forward-looking statements may also be included in other information released to the public. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "confident" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases, tax rates and other measures of financial performance or potential future plans, strategies or transactions of United Technologies or the combined company following United Technologies' pending acquisition of Rockwell Collins, the anticipated benefits of the pending acquisition, including estimated synergies, the expected timing of financing and completion of the transaction and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. Such risks, uncertainties and other factors include, without limitation: (1) the effect of economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies' existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies' common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services from suppliers; (8) company and customer-directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import/export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $695 million to United Technologies or $50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies' and/or Rockwell Collins' common stock and/or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies' shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and/or unknown liabilities; (22) risks associated with third party contracts containing consent and/or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger-related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel. There can be no assurance that United Technologies' pending acquisition of Rockwell Collins or any other transaction described above will in fact be consummated in the manner described or at all. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see the reports of United Technologies and Rockwell Collins on Forms S-4, 10-K, 10-Q and 8-K filed with or furnished to the SEC from time to time. Any forward-looking statement speaks only as of the date on which it is made, and United Technologies and Rockwell Collins assume no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law. In addition, in connection with the pending Rockwell Collins acquisition, UTC has filed a registration statement, that includes a prospectus from UTC and a proxy statement from Rockwell Collins, which is effective and contains important information about UTC, Rockwell Collins, the transaction and related matters.