Connecticut lawmakers on Sept. 29 approved the state’s $220 million incentive agreement with Sikorsky Aircraft. The proposal passed by wide margins in both the state Senate and House of Representatives.
Under the agreement, Sikorsky will stay in Shelton to produce nearly 200 CH-53K King Stallion helicopters for the U.S. Navy through at least 2032, and will be on the hook for penalties if it or Lockheed Martin, its parent company, fail to meet the terms.
In exchange for the $220 million in tax breaks and grants, Lockheed has agreed to keep Sikorsky headquartered in Connecticut, with the state serving as a primary production facility for its government-based helicopter business; grow its full-time employment in the state to more than 8,000 workers by the end of year 14 of the agreement; and nearly double its spending of $350 million per year with Connecticut suppliers.
“This is a bold, forward-thinking agreement that will not only support thousands of jobs at Sikorsky’s headquarters but also has a direct impact on hundreds of small businesses all across our state that serve as suppliers to Sikorsky,” said Gov. Dannel Malloy.