Marinette - Fincantieri Marinette Marine cut the ribbon on a new building Thursday. Building 34 is where pieces constructed by workers in Marinette and the company’s Sturgeon Bay location, Fincantieri Bay Shipbuilding, will be assembled into the newest Navy ship ships. Marinette Marine is currently under contract with the U.S. Navy to produce two guided-missile frigates, the first in the Constellation class at a cost of about $553.8 million each: “We’re going from building to 3,500 ton ships a year to building to 7,000 times. So it’s a, it’s a bigger ship, takes a bigger workforce,” said Mark Vandroff, CEO of Fincantieri Marinette Marine.
Governor Evers joined in for the ribbon cutting, announcing the Evers Administration will be supporting the shipyard’s expansion with up to $12 million in state tax credits through the Wisconsin Economic Development Corporation: “As Fincantieri continues to make investments here in Wisconsin and throughout the Midwest, we will continue to invest in them,” Evers said.
To receive all $12 million in tax credits, the company will have to hire and train 400 new workers over the next three years and invest an additional $100 million in its Marinette and Sturgeon Bay shipyards. The company said it already has spent $300 million to prepare its northeast Wisconsin shipyards for the frigate job. Evers said the company has invested $500 million in facilities, processes, and workers since 2009.(Source: Wbay)