Company: Newport News Shipbuilding (now Huntington Ingalls Industries) Parent Company: Huntington Ingalls Industries Subsidy Source: state Location: Virginia City: Newport News Project Description: aircraft carrier design center and shipyard training program Year: 1998 Major Industry of Parent: aerospace and military contracting Specific Industry of Parent: aerospace & military contracting Subsidy Value: $98,000,000 Program Name: multiple Awarding Agency: state legislature Type of Subsidy:
Source of Data: The subsidy estimate came from: Andrew Petkofky, "Yard's research center funded; ship industry called key to Va.," Richmond Times Dispatch, June 20, 1998. Notes: To encourage Newport News Shipbuilding to remain in Virginia, the state legislature agreed to provide $58 million for the creation of a research facility called the Carrier Integration Center as well as $40 million for other research and training costs. Newport News Shipbuilding was later acquired by Northrop Grumman, which subsequently spun off its shipbuilding operations as Huntington Ingalls Industries. Overlaps with main Subsidy Tracker data: none. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.