Posted on May 3, 2022
In a show of support and commitment to maintain Sikorsky Aircraft and thousands of jobs in the state and region, State Rep. Kathleen McCarty last week supported a bipartisan legislative agreement that the State of Connecticut and parent company Lockheed Martin negotiated in order to keep Sikorsky headquartered and building helicopters in Connecticut through 2042.
The agreement is contingent on the awarding of one or two federal Pentagon contracts for the new helicopter programs at Sikorsky. Lockheed Martin will receive performance-based incentives such as sales and use tax offsets and payroll tax credits. The company must achieve wage, employment and capital investment targets and remain in Connecticut to receive the state incentives.
“I am pleased that Connecticut will continue to be the home of Sikorsky helicopters for well into the future. I am also encouraged by the potential growth for the smaller, local manufacturers that supply the important components that are used in the production of these amazing helicopters.” Rep. McCarty said. “As an industry leader, Sikorsky and the state of Connecticut are synonymous with helicopter flight.”
The agreement has the potential of contributing 70 billion into the Connecticut economy and supporting 30,000 jobs over the term of the project. Rep. McCarty said she views this agreement as a “win-win” for Sikorsky and for the state.
You may read HB 5505 here: https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05505&which_year=2022