Raytheon Targeted as Pima County Plans Record Bond Vote
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Tucson, Arizona, the sixth-poorest U.S. big city, stands to gain protection from federal defense-spending cuts as its home county plans a record bond package, in part to entice Raytheon Co. to expand missile production.
Pima County, bordering Mexico, expects to ask voters to approve the $650 million debt plan as soon as next year. Some proceeds may target Raytheon, whose 10,500 workers make it the area’s largest private employer, and also finance a move of part of the University of Arizona to downtown Tucson. The metro area’s 20.4 percent poverty rate is about 5 percentage points above the national average, according to the U.S. Census Bureau.