April 24, 2014

GOV. MALLOY APPLAUDS FINAL BIPARTISAN PASSAGE OF AEROSPACE REINVESTMENT INITIATIVE

(HARTFORD, CT) - Governor Dannel P. Malloy today hailed the final bipartisan passage of legislation that will support an agreement the state reached last month with United Technologies Corporation (UTC) under which the company will invest up to $500 million to upgrade and expand its aerospace research and development and manufacturing facilities over the next five years. During the same time period, UTC expects to invest up to $4 billion in research and other capital expenditures in the state, impacting more than 75,000 jobs in the state.

Governor Malloy said, "This agreement will bolster the state's aerospace sector, encourage business growth and investment and, most importantly, foster the retention and creation of thousands of good-paying jobs with good benefits for Connecticut residents.

"UTC is the catalyst of this initiative, but the investments called for in this bill go well beyond one company. The agreement will have a direct impact on employment in almost every city and town in Connecticut , not just at the UTC companies, but also in the hundreds of aerospace supply chain companies throughout the state and the region.

"UTC shares our faith in Connecticut's talented workforce, commitment to innovation, and determination to build a world-class business climate. We could not ask for a better partner and look forward to working together to send the message that Connecticut is committed to continuing its role as a world leader in the aerospace industry."

Last week, the Connecticut House of Representatives' passed the bill by a vote of 134-4. The State Senate today approved the bill by a vote of 34-2.

"I thank my colleagues in the General Assembly, Democrats and Republicans, and the leadership of both chambers - especially Finance Committee Chairs Senator Fonfara and Representative Widlitz - for helping to move our state forward with the swift passage of this legislation. I would also like to thank the many business leaders, chambers of commerce, and labor leaders for their work in support of this initiative," said Governor Malloy. "I look forward to signing this bill into law once it reaches my desk."

###

For Immediate Release: April 24, 2014

Facebook: Office of Governor Dannel P. Malloy