E-mail not displaying correctly? View it in your browser.
News from State Senator Joan Hartley
     

September 30, 2016

Capitol address
Legislative Office Building
Room 3100
Hartford, CT 06106-1591

e-Mail
Hartley@senatedems.ct.gov

On the Web
www.SenatorHartley.cga.ct.gov

Phone
Capitol: 860-240-0006
Toll-free: 1-800-842-1420
 

Historic Vote to Keep & Grow Sikorsky Jobs in Connecticut

sikorskyDuring this week's Joint Session of the Connecticut Legislature, I supported and voted to retain and grow approximately 8,000 jobs at Sikorsky Aircraft until 2032, keep the Sikorsky headquarters here in Connecticut, and substantially increase Sikorsky's spending with its network of in-state suppliers, a number of whom are located in Waterbury, Middlebury and Naugatuck.

sikorsky CH 53 helicopterUnder terms of the new agreement between Sikorsky and the state, Sikorsky will build nearly 200 CH-53K King Stallion helicopters in Connecticut for the United States Navy until at least 2032.

The agreement with Sikorsky will infuse an estimated $69 billion into Connecticut's economy, generate $384 million per year in annual tax revenue, generate $21 billion in employee wages and benefits, and directly and indirectly support 24,600 jobs.

This proposal represents a landmark agreement not only for the 8,000 workers at Sikorsky/Lockheed Martin, but also for the small businesses, machine shops and workers across the entire supply chain. Hundreds of suppliers throughout the state will benefit from a strong Sikorsky/Lockheed Martin partnership with the State of Connecticut, and that means keeping good-paying jobs here in Connecticut for today's workforce and tomorrow's graduates.
 

Under the terms of the new agreement, Sikorsky/ Lockheed Martin will:

  • Keep the Sikorsky headquarters in the state and maintain Connecticut as a primary production facility for its government-based helicopter business.
  • Retain and grow its full time employment in Connecticut from a minimum of 6,500 employees in 2019 to just over 8,000 by 2032.
  • Increase its spending with Connecticut subcontractors from $300 million per year beginning in 2019 to $470 million per year beginning in 2030.
  • Increase its capital spending for machinery and equipment by 22 percent.

In exchange, Connecticut will provide financial incentives totaling up to $220 million over the term of the agreement.

  • Sikorsky will earn grants of up to $8.57 million on an annual basis over the term of the agreement by meeting certain benchmarks, such as retaining at least the minimum level of each category; growing jobs; payroll spending; utilizing in-state suppliers; and deploying capital for machinery, equipment, and other long term investments.
  • Sales and use taxes will be exempted up to $5.7 million per year over the term of the agreement.
  • If Lockheed Martin exceeds the target level employment by 100 to 550 jobs in any given year of the agreement, it will be eligible for a performance incentive grant of up to $1.9 million, for a total of up to $20 million.

This is a good deal for Connecticut, our small businesses and a generation of workers.
 

 
 

You're receiving this newsletter because you either opted in via e-mail or on my website, or you've been in touch with me or my office regarding an issue or issues of importance to you.

My mailing address is:
Senator Joan Hartley, Legislative Office Building, Room 3100, Hartford, Connecticut 06106

Capitol telephone: Toll-free: 1-800-842-1420


Copyright (C) 2016 Connecticut Senate Democrats. All rights reserved.