116 3rd St SE
Cedar Rapids, Iowa 52401
United Technologies Corp said on Wednesday it would invest more than $15 billion for research and development and capacity expansion in the United States over the next five years, spurred by the recent tax cuts.
The company also plans to hire 35,000 people in this period and spend about $75 billion with U.S. suppliers to strengthen local economies.
The maker of Pratt & Whitney aircraft engines said about $9 billion of the investment is expected to go toward research and development, including on artificial intelligence and autonomy.
The remaining $6 billion will be used to increase capacity in existing manufacturing facilities and improve efficiency.
The announcement comes at a time when the company is facing pressures from activist shareholders who believe that a breakup into three businesses could unlock $20 billion in value.
In September 2017, UTC acquired Rockwell Collins for $30 billion. Rockwell Collins employs about 8,000 in Cedar Rapids.