Subsidy Tracker Individual Entry

Company: 
United Technologies Corp
Parent Company: 
United Technologies
Subsidy Source: 
state
Location: 
Connecticut
City: 
East Hartford, Stratford, And Windsor Locks
Project Description: 

facilities upgrade and expansion

Year: 
2014
Major Industry of Parent: 
aerospace and military contracting
Specific Industry of Parent: 
aerospace & military contracting
Subsidy Value: 
$400,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Capital Investment: 
$500,000,000
Source of Data: 

All information about this subsidy package was taken from: Christopher Keating, "UTC tax credit deal gets final OK," Hartford Courant, April 25, 2014.

Notes: 

In 2014, the Connecticut General Assembly passed a bill that created sales and corporate tax credits for specific manufacturing companies. The new law, targeted specifically at UTC, allowed the company to claim up to $400 million in tax credits over five years. In exchange UTC must keep its headquarters in the state and must make $500 million investment to its various facilities in the state. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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