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Subsidy Tracker Individual Entry

Company: Sikorsky
Parent Company: Lockheed Martin
Subsidy Source: state
Location: Connecticut
City: Stratford
County: Fairfield
Address: 6900 Main St
Zip: 6614
Project Description: retention of a military helicopter production facility
Year: 2022
Major Industry of Parent: aerospace and military contracting
Specific Industry of Parent: aerospace & military contracting
Subsidy Value: $75,000,000
Subsidy Value in 2023 Dollars: $78,093,859
Program Name: multiple
Awarding Agency: Connecticut Legislature
Type of Subsidy: 
Number of Jobs or Training Slots: 700
Source of Data: A March 28, 2022 press release from Governor Lamont: Governor Lamont Announces Agreement Between Sikorsky, a Lockheed Martin Company, and the State of Connecticut: (click here). HB 5505 is at (click here). See also: Erica E. Phillips, "Sikorsky's $75 million tax credit deal glides through CT legislature," The CT Monitor, April 27, 2022: (click here)
Notes: In 2022, the Connecticut Legislature passed HB 5505 which will provide $75 million in sales and use tax exemptions and other tax breaks to Sikorski (the bill does not specifically name the company). In exchange, the company commits to retain 7,000 workers and to keep its helicopter production facilities inside Connecticut. The subsidy is in support of the company's federal bid on helicopter manufacturing. Overlaps with main data: none.
Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.