EAST HARTFORD, Conn. (WTNH)– East Hartford based “Pratt & Whitney” and parent corporation United Technologies say they will invest billions over the next five years and promise to keep both the jet engine maker and Sikorsky in the state.
Pratt & Whitney’s first successful airplane engine was completed on Christmas Eve in 1925. In war and peace, they’ve been making them ever since.
Connecticut’s most famous product delivered to airlines and military forces here at home and around the world is without question Pratt & Whitney jet engines.
Responsible for thousands of jobs, Pratt & Whitney is part of Hartford based United Technologies Corporation the state’s largest private employer.
Wednesday before hundreds of Pratt Employees and subcontractors, the big shots at Pratt and UTC were joined by the Governor to announce one of the biggest private company expansions in recent history.
“What is exciting about this historic agreement is that it is one that will lead to four billion dollars in investment in our state over the next five years and have a direct impact on more than 75,000 jobs,” said Gov. Dannel Malloy,(D) Connecticut.
Most of the company’s buildings were built between the 1930’s and the 1960’s. Starting with a new global headquarters in East Hartford the company will also upgrade and expand its aerospace research, development and manufacturing facilities over the next five years.
Also, a promise to stay in Connecticut for at least fifteen more years UTC also is committing to keeping Sikorksy Aircraft in Connecticut for at least five more years despite the tenuous times for military contracts.
“At the same time, we’ve seen tremendous momentum on the commercial side and basically we’ve built a whole new product line that’s going to be thirty to forty years into the future,” said Louis Chenevert, C.E.O.,United Technologies Corp.
“I think this gives a very, very long and prosperous future for us, so on behalf of the people of Pratt and Whitney, I want to thank you Governor Malloy very much,” said Paul Adams, President, Pratt & Whitney.
There are no state loans or guarantees involved. The Governor’s Chief of Staff telling News 8 that the companies will be able to use research and development tax credits that have accumulated unused by the company for several years.
It’s a very big feather in Malloy’s cap, it’s going to be very hard for his critics to accuse him of being anti-business.