Posted on April 29, 2022
HARTFORD- In a show of support and commitment to keep Sikorsky and their jobs in the state and region State Rep. Dave Yaccarino (R-87) co-sponsored a bipartisan legislative agreement that the State of Connecticut and parent company Lockheed Martin negotiated to keep Sikorsky headquartered and building helicopters in Connecticut through 2042.
Under the agreement, Lockheed Martin will receive $50 million or $100 million in sales and use tax offsets and payroll tax credits depending on if the Pentagon awards one or two of the contracts for the new helicopter programs to Sikorsky.
The state incentives are tied to the company achieving wage, employment and capital investment targets. Also, the global security and aerospace conglomerate agrees to maintain Sikorsky’s corporate headquarters here through 2042.
Rep. Yaccarino represents North Haven which houses nine of the Sikorsky supply-chain companies that will benefit from the new state deal. These supply-chain companies are the small- and medium-sized businesses that employ hundreds of highly skilled local residents in each town. North Haven is also home to one of Sikorsky’s satellite facilities.
“This bill is integral to keeping highly skilled jobs here in Connecticut,” Rep. Yaccarino said. “In my time in the legislature, I have always prioritized job creation and economic growth. This deal to retain Sikorsky in our state for two decades will be an incredible investment in our local workforce and economy.”
Sikorsky employs over 8,000 people in their Connecticut Facilities in Stratford, Bridgeport, Shelton, North Haven and Trumbull.
Read HB 5505 here: https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05505&which_year=2022