Connecticut pledges $220M in incentives to keep Sikorsky [FOX Business Network]
UNITED TECHNOLOGIES (UTX)
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Source: FOX Business Network
STRATFORD, Conn. – The office of Connecticut's governor says Sikorsky Aircraft has committed to keeping its headquarters in the state and adding jobs in an agreement that involves $220 million in state incentives. Continue Reading Below The agreement was announced Tuesday by Democratic Gov. Dannel P. Malloy and Maryland-based Lockheed Martin. It remains subject to approval from the Sikorsky workers' union and the state Legislature. The deal calls for Sikorsky to build nearly 200 CH-53K King Stallion helicopters in Connecticut for the U.S. Navy until at least 2032. The incentives pledged by Malloy's office include grants and tax exemptions. A news conference to provide additional details of the agreement is scheduled for Wednesday. Lockheed Martin purchased the Stratford-based helicopter maker from United Technologies in November.
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