Electric Boat to add 840 jobs this year - WFSB 3 Connecticut

Electric Boat to add 840 jobs this year

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Electric Boat to add 840 jobs this year (WFSB) Electric Boat to add 840 jobs this year (WFSB)
GROTON, CT (WFSB/AP) -

Groton’s Electric Boat said it plans to add 840 jobs this year.

The jobs are due to attrition, and a backlog of work.

In total, officials said the company plans to add about 1,500 new employees.

The company is contracted to build 16 new submarines for the U.S. Navy.

The president of the company said the demand is so great.

Electric Boat President Jeffrey Geiger shared a positive outlook when discussing the company's future at a hotel in Groton on Monday.

Geiger says funding for submarine programs is projected to increase from $7.2 billion in the 2016 fiscal year to more than $8 billion in 2017.

The Groton-based company employs 14,100 people, mainly in Connecticut and Rhode Island.

Employment is projected to grow to 18,000 by 2030 to build a new class of ballistic-missile submarines.

Geiger cautioned that his projections could vary slightly depending on budget decisions in Congress.

The company's sales topped a record $5 billion in 2015.

Copyright 2016 WFSB (Meredith Corporation). The Associated Press contributed to this report. All rights reserved.