I am pleased to announce the General Assembly has approved a deal with Sikorsky Aircraft, which has made its home in Stratford since 1929, to remain in the state until at least 2032.
The helicopter giant will be eligible for financial incentives in exchange for building nearly 200 CH-53K King Stallion helicopters, in Connecticut.
The deal is great news for local manufacturers, including the 14 suppliers in Manchester, 13 in East Hartford and 5 in South Windsor. The Sikorsky agreement will nearly double its spending of $350 million per year with local Connecticut suppliers throughout the state.
There are over two dozen suppliers in South Windsor, Manchester and East Hartford, and for these residents that work with Sikorsky, this deal is a huge win. This agreement will ensure job security, create thousands of manufacturing jobs, and dramatically increase investments for Sikorsky suppliers for many years to come. Additionally, the investment to our manufacturing programs within higher education will be a feeder for the jobs associated with Sikorksy. I am proud that future generations will have reliable good-paying jobs in Connecticut after they graduate and will therefore, be more likely to establish their lives here. I could not be more excited about this investment and the ripple of positive effects it will have on our local economies.
The deal will:
- Build nearly 200 CH-53K King Stallion Helicopters – the largest maritime helicopter in the world - in Connecticut for the United States Navy until at least June 2032
- Keep the Sikorsky headquarters in the state and maintain its Stratford site as a primary production facility for its government based helicopter business
- Nearly double its spending of $350 million per year with local Connecticut suppliers throughout the state.
- Increase its capital spending for machinery and equipment by 22 percent
- Drive an estimated $69.2 billion between 2016 and 2032 into the Connecticut economy
The incentives for this deal, worth up to $220 million, include exemption from sales and use taxes and annual grants during the term of the deal. In turn, Sikorsky and Lockheed will keep its HQ and primary manufacturing in the state, retain and expand its full-time staff, increase capital spending and give top priority