Northrop Grumman Shipbuilding Receives Contract for 8 Nuclear Submarines

The U.S. Navy announced the award of a $14 billion contract to Northrop Grumman Shipbuilding and General Dynamics Electric Boat to build 8 new nuclear powered submarines between 2011 and 2019. The new contract means that the shipyards will have two nuclear submarines under construction simultaneously for the first time since the two companies began jointly constructing nuclear submarines. The new work is expected to add up to 2,200 new jobs and require an additional $200 million in capital investment for new submarine production facilities.