Groton Economic Development: Report Cites 'Outstanding' Year For Connecticut's Defense Industrial Base

Groton CT

27 January, 2022

2:16 AM

Description

Press release from Groton Economic Development: January 26, 2022 A report from the Connecticut Office of Military Affairs said the state's defense industrial base had an "outstanding" year, with $18.3 billion in contracts awarded in 2020, the fourth highest since 2007. But the report said the $18.3 billion figure is conservative, as it's based on DOD's daily announcement of contract awards, which only applies to contracts over $7 million. "The state's high level of defense production will likely to be the case for years to come, as Connecticut continues to build and maintain the world's most sophisticated nuclear submarines, state-of-the-art military jet engines, and a variety of military helicopters used in the United States and worldwide," the report stated. "Simply put, the future for the state's defense economy is very bright." This press release was produced by Groton Economic Development. The views expressed here are the author's own.