City Center at Oyster Point AcquisitionFebruary 16, 2017
Newport News IndustrialFebruary 16, 2017
In June 2016, Huntington Ingalls Incorporated/Newport News Shipbuilding (Shipyard) announced a major advanced shipbuilding project that will create at least 1,000 new full-time-equivalent positions and include an investment of at least $750 million. The capital investment and employment are necessary to support the new Ohio-Class Submarine Replacement Program, in addition to the existing Ford-Class Carrier and Virginia-Class Submarine Programs.
As part of the facility improvements, the Shipyard will modernize its Foundry facility, which dates back to 1856. The Foundry improvements are anticipated to cost over $43 million and will allow the Shipyard to meet new, higher component standards established by the Navy for submarines and aircraft carriers.
In addition to improvements at the Foundry, the Shipyard will also expand its Joint Manufacturing and Assembly Facility, located on the North Yard of the Shipyard. The new manufacturing facility will be used not only for the Ohio-Class Submarine Replacement Program, but also to promote efficiencies in the Shipyard’s other programs.
This major advanced shipbuilding project will receive assistance from the City, through its Defense Production Zone Program, from the Commonwealth of Virginia and from the U.S. Navy. The Shipyard’s significant capital investment and job creation will produce immeasurable benefits to Newport News and to Virginia, and this impressive project solidifies the Shipyard’s successful future in Newport News.