Fincantieri Marine Group received $10 million in new US Navy and US Maritime Administration funding for advanced manufacturing and workforce investments across its Wisconsin shipyards.
The investments will modernize Fincantieri’s Wisconsin shipyards by adding advanced cutting, forming, welding, and automation capabilities that will improve production efficiency and strengthen the shipyards’ ability to execute the Landing Ship Medium program and other current and future shipbuilding requirements.
The approximately $8.3 million Navy Shipbuilding Capability Industrial Base (SCIB) funding and $1.3 million MARAD Small Shipyard Grant build on Fincantieri’s long-standing investments in its US shipyards to expand and modernize American shipbuilding.
The Navy agreement also enables Fincantieri to continue to offer its Employee Dependent Care Contribution Program through 2027. The annual tax-free $5,000 payment has helped employees offset childcare and elder care costs.
Previous Navy SCIB funding supported the development of a new Weld Lab at Fincantieri Marinette Marine.
Since establishing its presence in the United States two decades ago, Fincantieri has steadily expanded its American industrial footprint, investing more than $800 million in its U.S. shipyards. Through Fincantieri Marine Group, the company employs approximately 3,000 American workers.
