State support of $1 million will help boost shipbuilding at Marinette Marine.
The Transportation Economic Assistance grant, approved by Department of Transportation Secretary Craig Thompson, supports a $2.6 million reconstruction of Ludington Street in Marinette that will provide better access to the Fincantieri shipbuilding facility.
Fincantieri Marinette Marine recently received a $795 million contract to build the first of up to 10 new frigates for the U.S. Navy. If all 10 frigates are built, the contract could be worth up to $5.6 billion.
“We are proud to be partners with Fincantieri and the city of Marinette in this tremendous project, which not only will create jobs and stimulate the local economy but will also show the world the type of high-quality and technologically advanced products that are made right here in Wisconsin,” Gov. Tony Evers said.
Ludington Street will be reconstructed from the US 41 and Hall Avenue intersection near the entrance of Fincantieri’s shipyard. The project will reinforce the road base as well as add new pavement and stormwater drainage. The project is expected to begin later this year and be completed in fall 2022.
“This significant investment by WisDOT will bring future economic development for years to come,” Marinette Mayor Steve Genisot said. “We appreciate this great partnership and the efforts by all those involved to support and strengthen Navy shipbuilding in our community.”
Marinette Marine is currently making $200 million in site improvements related to its new Frigate contract with the Navy. Over the past five years, the DOT has also awarded $34 million directly to Fincantieri Marinette Marine from the Harbor Assistance program to improve its shipyard.
-By Stephanie Hoff
WisBusiness.com
