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Senate approves massive defense bill, but trims number of F-35s

WASHINGTON –  The Senate late Monday approved a $716 billion defense authorization bill that trims the number of F-35’s the Pentagon can purchase this year, but allows for more spending on Electric Boat submarine programs and Sikorsky-made helicopters. “Five percent of our country’s defense spending is done in Connecticut,” Sen. Richard Blumenthal said. Continue Reading →

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UTC chief quits Trump advisory group as White House disbands it

WASHINGTON — United Technologies CEO Gregory Hayes said he was quitting President Donald Trump’s American Manufacturing Council. “As the events of last week have unfolded here in the U.S., it is clear that we need to collectively stand together and denounce the politics of hate, intolerance and racism,” Hayes said. Continue Reading →

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Lovefest at UTC provides respite from Aetna news

Two days after Aetna said it was looking elsewhere for a headquarters, Gov. Dannel P. Malloy hailed the ongoing expansion of United Technologies Corp.’s East Hartford campus Friday. Dozens of UTC employees and others greeted Malloy with a standing ovation as he took the stage to celebrate completion of the company’s new “Innovation Hub.” Continue Reading →

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Malloy, Foley on economy: some harmony amidst discord

Despite their seeming ability to disagree about almost everything, Gov. Danel P. Malloy and Tom Foley share plenty of common ground about Connecticut’s future economic development. But it’s their respective track records that lead them to butt heads most frequently.
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House OKs $400M tax break for UTC expansion

Connecticut moved one step closer Thursday toward providing up to $400 million in tax breaks to United Technologies Corp. to trigger a major UTC investment in its research, training and corporate facilities. Continue Reading →

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UTC Power reaches the edge

While you were still busy clearing snow from the February blizzard, a storied piece of Connecticut’s business and energy history underwent a massive transformation. UTC Power, the fuel cell division of United Technologies was purchased by ClearEdge Power, a West Coast relative newcomer to the world of fuel cells that UTC all but invented. Continue Reading →

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Malloy praised by UTC exec who panned state business climate

Gregory J. Hayes, the prominent executive who rattled the political establishment a year ago by telling Wall Street that “anyplace outside of Connecticut is low cost” when it comes to doing business, gave a thumbs up Tuesday night to the new governor’s approach to finance and economic development. Gov. Dannel P. Malloy shared a stage at the University of Hartford with Hayes, the chief financial officer of United Technologies Corporation, who says he still is surprised by how his remarks to business analysts infuriated and embarrassed some politicians, while winning praise from others. An unapologetic Hayes said he was stating the obvious. “It’s kind of like saying the sky is blue, and then everybody all of a sudden steps back and says, ‘Oh, my God, the sky is blue,'” Hayes said. Hayes said Connecticut remains a high-cost place to do business, along with many other states, but overall he was a more upbeat analyst Tuesday night at a Hartford Courant Key Issues Forum, praising Malloy’s initial efforts to stabilize the state’s finances and improve its business climate. Continue Reading →

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