Boeing moving HQ to Arlington, Va., vows to keep ‘significant presence’ in Chicago

Boeing Co. is moving its global headquarters to Arlington, Va., the aerospace and defense company said Thursday. The Wall Street Journal broke the news about the imminent move earlier Thursday. Boeing vowed to keep a “significant presence” in Chicago, where it moved in 2001. The Northern Virginia campus will “support various corporate functions and specialize in advanced airplane development and autonomous systems,” Boeing said. The company also plans a research & technology hub in the area “to harness and attract engineering and technical capabilities,” it said. Shares of Boeing dropped more than 4% on Thursday, swept by steep declines for the S&P 500 index and the Dow Jones Industrial Average . Boeing is a Dow component.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.