Connecticut
Officials say Connecticut will not lose money on Sikorsky incentive package
Connecticut lawmakers have been assured that the state won’t lose cash on an incentive package deal for one of many state’s largest protection contractors.
The aim of the $75 million package deal is to assist Lockheed Martin win a few authorities contracts for brand spanking new helicopter manufacturing traces, stated David Lehman, the state’s financial and group growth commissioner.
It could additionally maintain not less than 7,000 jobs at its Sikorsky manufacturing facility in Stratford, he stated.
“If Sikorsky shouldn’t be profitable in successful one or each of those contracts you will note employment in Stratford largely go down over the following twenty years,” Lehman advised lawmakers.
The incentives can be within the type of lowered gross sales taxes and payroll tax credit and wouldn’t require upfront cash from the state, he stated. However it will assure that Sikorsky would hold its headquarters in Connecticut via 2042.
Sikorsky employs about 8,000 individuals in Connecticut, and has services in Stratford, Bridgeport, Shelton, Trumbull and North Haven.