Genga Praises Deal to Keep Sikorsky in Connecticut

September 28, 2016

State Representative Henry Genga (D-East Hartford) lauded the General Assembly Wednesday for approving an agreement to keep Stratford-based Sikorsky Aircraft in Connecticut until at least 2032.

“Sikorsky Aircraft has called Connecticut its home for decades, and I am very happy that we have an agreement that will keep one of the state’s major manufacturers in the state for many more years,” Genga said.

Combined with programs and other measures the legislature has approved for supporting education and training for high-tech manufacturing, the agreement will grow Sikorsky’s full time employment in Connecticut to more than 8,000 jobs, Genga said.

“There are literally dozens of businesses in East Hartford and surrounding towns whose futures are directly connected to the success of Sikorsky in Connecticut. By approving this agreement we will keep our state moving forward. Let’s keep East Hartford on course,” Genga said.

The helicopter giant will be eligible for financial incentives in exchange for building nearly 200 CH-53K King Stallion helicopters in Connecticut. The incentives, worth up to $220 million, include exemption from sales and use taxes and annual grants during the term of the deal.

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

  • Inject an estimated $384.4 million in direct and indirect average annual tax revenue into the Connecticut economy, totaling $6.54 billion from 2016 and 2032

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 to its Connecticut-based suppliers. Positive impacts to Connecticut’s jobs market include:

  • Retaining and growing its full time employment in Connecticut to more than 8,000 by the end of year 14

  • Supporting approximately 24,601 jobs directly and indirectly

  • Investing an estimated $744.8 million in contractor employment

  • Allowing Sikorsky to spend an estimated $21.1 billion on wages and benefits between 2016 and 2032

The deal was approved in a Special Session today by the General Assembly. For more information click on the following links: Summary of Agreement | CH-53K Stallion Helicopter Details Brochure