Budget/Economy

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Sikorsky incentives win bipartisan approval in special session

Sen. Joe Markley, the only no vote in the Senate, and colleagues reading the Sikorsky legislation,

Updated at 6:30 p.m.
Connecticut legislators took a one-day break from re-election campaigns Wednesday to give bipartisan blessing to a $220 million incentive deal for Lockheed Martin that would keep its Sikorsky Aircraft subsidiary and production of its next generation of helicopters in a state desperate to grow its storied aerospace industry. Continue Reading →

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As Sikorsky proves in CT, states will pay for aerospace jobs

Sikorsky's new heavy lift helicopter, now in flight testing.

In the world of megadeals that states craft to attract and keep employers, the $220 million in incentives that the Connecticut General Assembly is expected to approve Wednesday for Lockheed Martin to produce Sikorsky’s new helicopter line in Stratford doesn’t crack the top 75 — nor is it the biggest subsidy ever obtained by Lockheed. Continue Reading →

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Lockheed puts big number on cost of business in Connecticut

Lockheed Martin vice president Lawrence Duncan III, left, talking to Republican Reps. Charles J. Ferraro of West Haven and Ben McGorty of Shelton.

Legislators say a senior Lockheed Martin official told them in private meetings Monday that $200 million in incentives the company wants for its Sikorsky Aircraft subsidiary are needed to help offset the $400 million more it would cost to produce CH-53K helicopters in Connecticut in coming years rather than in competing states. Continue Reading →

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GOP: Deal to keep Sikorsky in Connecticut is good and bad news

Gov. Dannel P.  Malloy and House Majority Leader Joe Aresimowicz listening to a Sikorsky supplier, Mark Labbe, right.

Most Republican legislators are expected Wednesday to support the Sikorsky Aircraft incentives deal negotiated by Gov. Dannel P. Malloy as a smart investment, while simultaneously arguing that the deal is necessary because of a high cost of doing business in Connecticut that they blame on the legislature’s Democratic majority.
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Connecticut has baby bust, slow growth and aging population

Baby being weighed

WASHINGTON — Connecticut women are having fewer children than those in most other states, its population continues to age and growth is lagging. The census bureau said that in 2015 Connecticut women ranked 49th among the states as far fertility. The census also determined that Connecticut is one of the slowest-growing states. Continue Reading →

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In a turbulent year, Malloy makes a soft landing at Sikorsky

Gov. Dannel P. Malloy and a model of the CH-53K King Stallion.

STRATFORD — With a press conference Wednesday of the lawn of Sikorsky Aircraft, Gov. Dannel P. Malloy took a step toward rewriting his economic legacy from being the governor blamed for driving away General Electric and hundreds of headquarters jobs to the one who stabilized Connecticut’s aerospace industry for a generation. Continue Reading →

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Sikorsky, Malloy cut tentative deal to produce new helicopter in Connecticut

Sikorsky's new heavy lift helicopter, now in flight testing.

Gov. Dannel P. Malloy and Lockheed Martin announced a tentative deal Monday to produce a new generation of Sikorsky heavy-lift helicopters in Connecticut at the cost of $220 million in financial incentives from the state and an agreement with its union workforce. The General Assembly is tentatively scheduled to consider the deal in special session Sept. 28. Continue Reading →

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House Democrats outline agenda with a pro-business flavor

Rep. Theresa Conroy was featured. She is targeted for defeat this fall. At left is House Majority Leader Joe Aresimowicz.

EAST HARTFORD — Facing an electorate that gave the General Assembly a 24-percent approval rating, the House Democratic Majority unveiled a campaign framework Tuesday that focuses on job creation and fiscal responsibility and downplays labor issues, such as raising the minimum wage and making the tax structure more progressive. Continue Reading →

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Nation’s income gains strong, but Connecticut’s lag far behind

median-income-change-chart-from-census

WASHINGTON – The U.S. Census Bureau’s good news that median income rose significantly in the United States last year wasn’t as cheerful for Connecticut. The state was among a dozen with the smallest rate of household median income growth in the nation, which had a robust increase of 5.2 percent. And not everybody benefited from Connecticut’s modest 1.8 percent income growth. Continue Reading →

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