NEWPORT NEWS, Va. – The largest industrial employer in the Commonwealth of Virginia has been granted $46 million for the purpose of upgrading and modernizing foundry improvements and supporting expansion of the new Joint Manufacturing Assembly Facility (JMAF).
The Advanced Shipbuilding Production Facility Grant Program funds will be delivered over multiple years, subject to Shipyard performance.
Newport News Shipbuilding, a division of Huntington Ingalls Inc., will receive a share of the future construction contract work for the Ohio Replacement Submarine Program. In order to support and sustain the submarine program and existing Shipyard operations, they estimated 1,000 jobs would be created.
The Shipyard also reported plans to make a capital investment of at least $750 million.
They have also requested funding from the Navy to support a portion of the Shipyard’s foundry facility improvements.
The expansion of JMAF will support a new type of warship and it will dirctly strengthen the Shipyard.
Conditions will be outlined in a memorandum of understanding between the Shipyard and the Virginia Economic Development Partnership.