Basic Search  |  Geographic Searches  |  Advanced Search | Megadeals

Subsidy Tracker Individual Entry

Company: United Technologies Corp
Parent Company: RTX Corporation
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
Subsidy Value in 2023 Dollars: $516,882,370
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy: 
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: If an online information source is not working, check the Tracker inventory page for an updated link.