A Connecticut company has secured what is being called the largest shipbuilding contract in modern history, according to a report by Eyewitness News. The deal is set to reshape a corner of the state's economy.
The Groton-based Electric Boat inked the $77 billion deal with the federal government. The agreement ties the company to a major buildup of U.S. naval capacity.
Under the contract, the company will build 14 new submarines for the Navy. It will also receive money to update its shipyard.
The deal is expected to bring thousands of new jobs to the state. It marks a significant boost for the Connecticut workforce.
As part of the plan, the old Crystal Mall will be transformed into a training ground for those workers. The move gives the company room to prepare its growing workforce.
The aim is to clear the waterfront in Groton so it can be focused on shipbuilding. Things that are important but do not need to be around the water are being placed in the mall, the company said, describing it as part of the overall plan.
More than 4,000 people have already been hired this year, according to the report. The company is on track to hit its goal of 8,000 new hires.