Sikorsky, CT Reach Potential Deal To Keep Headquarters In State: What To Know

CONNECTICUT — A new agreement between Lockheed Martin and Connecticut would keep Sikorsky headquartered in the state for the next 20 years.

The deal is contingent on legislative approval and Lockheed Martin being awarded next-generation helicopter contracts, which will replace the Black Hawk program.

Connecticut would give up to $75 million in incentives depending on how many contracts are secured.

“If approved, this agreement will support new helicopter production in Connecticut and help enable thousands of Sikorsky jobs for decades to come,” Gov. Ned Lamont said in a statement. “I look forward to working with the General Assembly to ratify legislation that will maintain Connecticut’s global reputation as a leader in aerospace innovation.”

Sikorsky would get incentives as it hit certain employment and wage targets, Lamont senior economic advisor David Lehman said at a news conference. Incentives will come in the form of sales and use tax offsets and payroll tax rebates. The state won’t have to secure bonds to fund the agreement.

The agreement will be presented to the state legislature Tuesday. Legislative leaders have already been briefed on the agreement framework.

Sikorsky gave no indication they had any intention of leaving the state, Lehman said.

“We wanted to do everything we can to ensure that Sikorsky’s bid was the winning bid,” Lehman said.

Connecticut made an agreement with Sikorsky in 2016 that was tied to the company’s CH-53K King Stallion heavy-lift cargo helicopter production. That deal provided up to $220 million in incentives. Part of that deal would keep Sikorsky headquartered in Connecticut through 2032.