STRATFORD - A new deal is on the table that could keep Stratford-based Sikorsky Aircraft in town for the next 16 years.
Gov. Malloy discussed the deal Tuesday. It calls for parent company Lockheed Martin to move production of 200 "heavy lift" Naval helicopters to the Stratford plant.
The agreement would retain and grow about 8,000 jobs at Sikorsky Aircraft until 2032.
Under the deal, Lockheed Martin would also have to double its spending of $350 million per year with local suppliers throughout the state.
In return, the company is eligible for $8.5 million in grants every year, as well as $5.7 million in sales tax exemptions annually.
The deal needs legislative and union approval.
The Sikorsky deal affects dozens of other local businesses, including Spectrum Associates in Milford. Spectrum makes helicopter parts, and its biggest customer is Sikorsky.
Sikorsky is also shifting production of their new helicopter to Stratford, and that means that businesses like Spectrum could not only get a slice of that business, but they could also add workers.
Malloy says he is confident the company's union and the legislature will approve the deal. He says if it is not approved, it would have a negative impact on the state's economy.
Malloy hopes the legislature approves the agreement in early October.