The U.S. Navy has awarded General Dynamics Corp. a new $18.4 billion contract to produce two Virginia-class fast attack submarines, a move that solidifies Rhode Island’s role as a critical hub in America’s naval defense infrastructure.
Electric Boat, a subsidiary of General Dynamics with major manufacturing facilities at Quonset Point, will receive the bulk of the funding—$12.4 billion initially, with potential to reach $17.1 billion if all options are exercised. The contract also includes $1.3 billion for Newport News Shipbuilding in Virginia and covers long lead materials already allocated.
Senator Jack Reed, Democrat of Rhode Island and a senior member of the Armed Services and Defense Appropriations committees, praised the deal as a “major win for Rhode Island’s workforce.” Reed has long championed submarine production as both a national security imperative and an economic engine for the Ocean State. The new contract, he said, “provides added stability for the Ocean State’s industrial base while also achieving cost savings for taxpayers through production efficiencies.”…