Fincantieri Marinette Marine could get $31M from state

Posted on Jan 25, 2019 :: Insight on Business, Insight on Manufacturing, Web Exclusive.
Posted by of Insight Publications

Fincantieri Marinette Marine may receive $31 million in the next state budget, according to Gov. Tony Evers.

In a visit Thursday to the Marinette shipyard, Evers announced plans to help the shipbuilder expand its shipyard and infrastructure. The governor said the shipyard expansion will help Marinette Marine keep its workforce of 1,500 employees and add another 400 full-time positions.

The funds will help with new docks and possibly dredge parts of the Menominee River, along which Marinette Marine is located.

Marinette Marine is one of two companies building Littoral Combat Ships since 2005. The U.S. Navy is discontinuing the LCS in favor of a larger, frigate-class ship, and Marinette Marine is competing with four other companies for the new $10 billion contract. The work at Marinette Marine will help it better compete for the project.