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Submarine Base New London (in Groton) $4.5 Billion Annual Economic Impact 15,000 Jobs

Submarine Base New London (in Groton) $4.5 Billion Annual Economic Impact 15,000 Jobs 15 Nuclear-Powered Submarines Submarine School and Learning Center 70 Tennant Commands. Direct State Funding Took Two Years to Negotiate with Navy First Meeting: May 25, 2007

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Submarine Base New London (in Groton) $4.5 Billion Annual Economic Impact 15,000 Jobs

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  1. Submarine Base New London (in Groton) • $4.5 Billion Annual Economic Impact • 15,000 Jobs • 15 Nuclear-Powered Submarines • Submarine School and Learning Center • 70 Tennant Commands

  2. Direct State Funding • Took Two Years to Negotiate with Navy • First Meeting: May 25, 2007 • Negotiations on Terms & Conditions: Nov 07-Dec 08 • Formal Offer Conveyed by Governor: Feb. 18, 2009 • Offer Accepted by Navy: Aug. 4, 2009

  3. Direct State Funding/Authority • Statutory Authority: 10 U.S.C. 2601 • Authorizes Military Services to Accept Gifts for Certain Purposes • Donor May Establish Terms & Conditions • Pre-Negotiated Terms Accepted by Navy

  4. Direct State Funding/Implementation • State Provides Funds; Navy Builds Projects • Navy Responsible for All Claims, Liability • Navy Provides State with Certified Cost/Budget • State Protected Against Cost Increases/Overruns • Excess Funds Returned to State (or Related Purpose) • State Sees Key Documents; Has Right to Inspect

  5. Direct State Funding/Projects = $11.55M • Navy Diver Facility, $4.65M • Energy-Efficient Boiler Replacement, $3M • Structure to House Submarine Bridge Simulator, $2.48M • Submarine Galley Training Facility, $740K • Encroachment Mitigation, $680K • Next Projects will Focus on Energy

  6. Enhancing Military Value $150M in TRANSFORMATIONAL Investments 11M in UNPRECEDENTED State-Funded Projects Demolished 12% of the 2005 Archaic Infrastructure Created Room for Growth and New Facilities It is NOT about Sunk Cost – It’s Future Military Value

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