(Business Facilities, 5/2/18)
General Dynamics Electric Boat (EB) will grow its workforce in Connecticut by nearly 1,900 employees, bringing the total to more than 13,000 by 2034, with help from up to $63 million in support from the state. The state incentives will allow for capital investments of greater than $800 million over the next 17 years, and more than double the company’s spending on in-state suppliers, which are located in 102 Connecticut cities and towns. Connecticut’s investment will allow EB to maintain its position as the highest-quality provider of submarines to the U.S. Navy, thus capturing additional overhaul and repair work while continuing the delivery of the Virginia Class Submarines.
“This investment provides crucial support for the workforce development and facility expansion that will help Electric Boat grow, increase its economic contribution to the region, and continue to deliver the world’s most capable submarines to the U.S. Navy,” said EB President Jeffrey S. Geiger. “It will also improve our competitive position, help us to secure additional work in the future, and solidify the region’s title of Submarine Capital of the World.”