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Wednesday, October 26, 2016

Electric Boats Look Bullish

January 26, 2016

Image: General Dynamics Electric Boat

Image: General Dynamics Electric Boat

 General Dynamics Electric Boat expects to hire nearly 4,000 people in the coming years as it ramps up production on Navy submarines, the Associated Press reports.

Electric Boat is projecting a positive outlook for 2016 for revenue and employment, saying 1,800 more workers will be hired at its facilities in Connecticut and Rhode Island this year.
Electric Boat, a subsidiary of General Dynamics Corp., employs 14,100 people, mainly in Connecticut. By 2030, EB is projecting that number will grow to 18,000.
Electric Boat president Jeffrey S. Geiger told a gathering of legislators Monday at the Crowne Plaza in Warwick the North Kingstown shipbuilder’s future looks upbeat. Right now, the company has a backlog of 16 Virginia-class attack submarines under contract — worth $21 billion. 
They also expect the U.S. Navy will order more of them, and then hire EB to build replacements for Ohio-class ballistic missile submarines.
Congressman Joe Courtney says “The strong hiring outlook for Electric Boat this year will provide a profound boost to the economy of our region and the state.  Courtney is a ranking member of the House Seapower and projection forces subcommittee, which oversees submarine and shipbuilding programs. 
The jobs will be in trades, design and engineering and support.
EB builds nuclear-powered Virginia-class submarines in partnership with Newport News Shipbuilding, a division of Huntington Ingalls Industries (HII).
Two other contracts are in the engineering and design phase and are important for the long-term prospects of Electric Boat, keeping the company busy into 2033.

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