[Editor’s note, Dec. 24, 2012: The story originally contained multiple inaccuracies about the history of the infrared sensor industry in the Tri-Counties. A corrected version has been posted below.] A pair of entrepreneurs who built up and then sold Goleta-based Indigo Systems to Flir Systems are back in action with $20 million in fresh capital Read More →
If a $55 billion cut to the U.S. defense budget takes effect on Jan. 2 as planned, small and mid-sized military contractors in the Tri-Counties stand to be hit the hardest by a $113 million reduction in the $1.2 billion that currently goes to defense spending in the region. The military cuts are part of Read More →
By Stephen Nellis / Friday, August 3rd, 2012 / Technology, Top Stories / Comments Off on Raytheon ramps up Vision Systems work force in Goleta
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The defense industry in the Tri-Counties is headed for its biggest shakeup in decades. Longtime players are cutting jobs while younger firms see growth as the Pentagon draws down its two foreign wars and focuses on strategic threats. Raytheon, a major Goleta employer, confirmed layoffs that will affect about 160 of its jobs in Goleta. Read More →
