Bi-Partisan Bill Passed by State Representatives
State Representative Phil Young (D)
120th Connecticut House District
State Representative Ben McGorty, (R)
122nd Connecticut House District
State Representative Joe Gresko, (D)
121st Connecticut House District
Dear Neighbor,
In a show of support and commitment to keep Sikorsky and their jobs in the state and region State Representatives Phil Young, and Ben McGorty co-sponsored a bipartisan legislative agreement that the State of Connecticut and parent company Lockheed Martin negotiated to keep Sikorsky headquartered and building helicopters in Connecticut through 2042.
Under the agreement, Lockheed Martin will receive $50 million or $100 million in sales and use tax offsets and payroll tax credits depending on if the Pentagon awards one or two of the contracts for the new helicopter programs to Sikorsky.
The state incentives are tied to the company achieving wage, employment and capital investment targets. In addition, the global security and aerospace conglomerate agrees to maintain Sikorsky’s corporate headquarters here through 2042.
Thirty-four supply-chain companies located in Stratford, Trumbull, and Shelton will benefit from the new state deal. These supply-chain companies are the small- and medium-sized businesses that employ hundreds of highly skilled local residents in each town.
“Sikorsky is a staple of our community that continues to employ thousands of local residents in its numerous facilities around Connecticut,” Rep. McGorty said. “Not only is this deal beneficial to Sikorsky, but also to the private vendors who supply parts and the small businesses who provide their services. I am proud to ensure its future in the 122nd District and in our state.”
Sikorsky employs over 8,000 people in their Connecticut Facilities in Stratford, Bridgeport, Shelton, North Haven and Trumbull.
“I was proud to co-sponsor this bill which will serve Connecticut residents and businesses for the next two decades,” noted Rep. Phil Young
Read HB 5505 Here:
