Electric Boats Look Bullish

 

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.

 

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.