(The Center Square) – The Fincantieri Marinette Marine shipbuilding company will receive more than $630,000 in grants from the Wisconsin Department of Transportation to fund part of the road construction around the company’s facility in Marinette.
Marinette Marine has operated for more than 80 years and received a 2020 contract to build the U.S. Navy’s newest class of ships, the Constellation-class Frigate.
Marinette Marine has a contract to produce two guided-missile frigates, the first in the Constellation class at a cost of about $553.8 million each with a Navy option to order up to eight more of the ships, with a total contract value of about $5.5 billion.
The company received up to $12 million in state tax credits from the Wisconsin Economic Development Corporation in 2020 as it announced a $300 million expansion.
The company built its largest building at the Marinette shipyard to allow work on two of the frigates at the same time year-round in a climate-controlled facility.