Raytheon awarded $156M missile contract

The Missile Defense Agency has awarded Raytheon Missile Systems a tentative contract valued at $156 million for the procurement of Standard Missile-3 Block IB interceptors, the company said Monday.

Raytheon said fiscal year 2014 defense procurement funds will be used to fund the work under a procedure known as a “undefinitized contract action,” which allows a contractor to begin work before contract terms are finalized. The work will be done in Tucson and Huntsville, Ala., through September 2016, the company said.

Part of the sea-based Aegis Missile Defense system, the SM-3 is designed to destroy ballistic missile threats by colliding with them in space. More than 155 SM-3s have been delivered to the U.S. and Japan, Raytheon said.

Education-tech firm wins NSF grant

The National Science Foundation has awarded a $150,000 Phase 1 Small Business Innovative Research grant to Tucson-based YourLabs LLC, an e-learning software firm, to develop its Knowledge Evaluation System, a Web-based platform for student learning and assessment.

YourLabs also has been chosen by the NSF to be an exhibitor at the 2014 Florida Education Technology Conference, the largest education technology conference in the U.S., the company said.

YourLabs is a graduate of the Arizona Center for Innovation, a business incubator at the University of Arizona Science and Technology Park.

Flooring firm to mark opening of new store

Floor & Decor, a retailer of hard-surface flooring and accessories, will hold a grand openings Thursday through Saturday for a 60,000-square-foot store it opened recently at 7125 E. Broadway.

Events at the store, which employs about 55 workers, will start with a ribbon-cutting and a donation to Tucson Habitat for Humanity at 8:30 a.m. Thursday.

That will be followed by live radio remotes on Friday and Saturday and a Tucson Food Truck Roundup on Saturday.

Contact Assistant Business Editor David Wichner at dwichner@azstarnet.com or 573-4181.