(Bloomberg) -- Raytheon Technologies Corp. will move its headquarters to the Virginia suburbs near Washington, making it the latest aerospace and defense giant to shift closer to the seat of the US federal government. 

The maker of Patriot missiles and Pratt & Whitney jet engines for fighter jets and airliners said Tuesday the move will help it become more agile in supporting its government and commercial aerospace customers. Raytheon’s decision to leave its longtime home of Waltham, Massachusetts, comes after Boeing Co. in May said it would relocate its Chicago headquarters to the Washington area.

The move also puts Raytheon closer to rival defense contractors Lockheed Martin Corp., General Dynamics Corp. and Northrop Grumman Corp., each of which are headquartered in suburban Washington.

Raytheon’s four main divisions already have a presence in Virginia, and the new headquarters office will be located in Arlington, near Raytheon’s Intelligence and Space offices and the Pentagon. 

Read more: Arlington Positioned as Growing Tech Hub With Boeing HQ Move

The company plans to “slightly expand” the scope of its existing leased space in Arlington, a Raytheon spokesman said. Raytheon said it “has not accepted or sought any financial incentives from any state or municipality” as part of the move to Virginia.

Raytheon has been in the Boston area for a century. Waltham, about 12 miles west of Boston, remained the headquarters site after a 2020 merger combining Raytheon’s defense and space units with United Technologies’ commercial aerospace businesses. United Technologies had been based in Farmington, Connecticut. 

Raytheon’s shares rose 0.1% to $97.35 as of 10:06 a.m. in New York. The stock is up about 13% this year.

(Upddates with details on move from third paragraph.)

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