Rep. Adams Hails Deal Keeping Sikorsky, Growing 8,000 Manufacturing Jobs in CT

September 28, 2016

Representative Terry B. Adams (D-Stamford) praised the General Assembly Wednesday for approving a state agreement with Lockheed Martin to keep Stratford-based Sikorsky Aircraft in Connecticut until at least 2032.

“This agreement with Lockheed Martin to keep Sikorsky’s headquarters and thousands of manufacturing jobs in Connecticut through at least 2032 is great news for the hundreds of businesses and their employees in communities throughout the state, including Stamford and its surrounding towns.

"As a legislator I am proud to have voted for this agreement on Wednesday as well as other programs and measures over the years that support education and training for high-tech manufacturing."

The state agreement with Lockheed Martin will grow Stratford-based Sikorsky’s full time employment in Connecticut to more than 8,000 jobs.

The helicopter giant will be eligible for financial incentives in exchange for building nearly 200 CH-53K King Stallion helicopters, in Connecticut. 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
  • Retain and grow its full time employment in Connecticut to more than 8,000 by the end of year 14
  • 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
  • Allow Sikorsky to spend an estimated $21.1 billion on wages and benefits between 2016 and 2032
  • Support approximately 24,601 jobs directly and indirectly
  • Invest an estimated $744.8 million in contractor employment
  • 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

The incentives, worth up to $220 million, include exemption from sales and use taxes and annual grants during the term of the deal. 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.