The Connecticut House of Representatives has overwhelmingly approved a $400 million tax credit exchange deal, reached by Gov. Dannel P. Malloy’s administration with the state’s largest private employer, United Technologies Corp.
When Connecticut struck a deal for up to $400 million in tax credits for United Technologies Corp., the sides said the company’s helicopter and aerospace divisions would remain here “for years to come.”
United Technologies Corp. is expected to post a modest increase in revenue for the fourth quarter and stronger sales growth for 2013, while its emphasis on cost-cutting drives a stronger boost in profit.
United Technologies says its second-quarter revenue and profit spiked on strong elevator business in China and spare part sales for commercial airliners.
United Technologies Corp. is expected to report a significant jump in second-quarter revenue as it capitalizes on its Goodrich Corp. acquisition and a more integrated building systems division.
United Technologies Corp. says a federal court ordering it to pay $473 million plus interest to compensate for alleged fraud in its sale of fighter jet engines will cut revenue and profit.
Aerospace conglomerate United Technologies Corp. says it’s donated $3 million to establish an endowed professorship at the Yale Cancer Center in New Haven.
Senator Chris Murphy visited defense contractors Wednesday to denounce what he called damaging automatic federal budget cuts and said he expected smaller contractors in the state to be hit worst.
A former employee of United Technologies Corp. is suing the aerospace conglomerate over its tuition program that financed graduate school but laid him off before he could receive company stock.
East-Hartford-based Pratt & Whitney says it’s uncovered fraudulent testing of engine parts, but that no recalls or other problems resulted.