L3Harris Technologies is extending support to small business suppliers across 45 US states through accelerated payments amid the Covid-19 pandemic.
The company has started issuing more than $100m in payments to small businesses that are part of its global supply chain to sustain regional economies and ensure the security of the country.
Acceleration in payments is expected to generate employment. It will also help employees, customers, suppliers and communities fighting Covid-19.
The continued flow of supplies will help the company to deliver innovative solutions to the US Department of Defense (DoD), US Government agencies, US allies and other customers.
L3Harris Chairman and CEO William Brown said: “Accelerating payments reflects our commitment to support small businesses, the aerospace and defence supply chain, and the vital US defence industrial base.
“We are proud to help these businesses and their regional economies, particularly during this difficult economic period.”
Furthermore, the company is contributing $2m and providing additional equipment and resources to organisations involved in Covid-19 relief and recovery efforts.
The company has also donated protective suits and masks to help employees impacted by the virus.
The engineers and scientists of L3Harris are assembling positive air pressure respirators, producing medical-grade components for respirators, volunteering to create STEM-oriented online educational videos for out-of-school students and supporting other relief initiatives.
L3Harris supplier in Melbourne, Custom Aerospace Machine CEO Evan Crame said: “Bringing these payments forward gives us assurance in keeping the supply chain stable and supporting our sub-tier vendors, staff and families.
“The accelerated payment will also allow us to continue to invest in our strategic growth plan, with our move to a new 52,000ft² facility, in support of the pending F-35 full-rate production schedule.”