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New economic impact report for Kittery Shipyard released

6:00 PM, Mar 8, 2013   |    comments
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KITTERY, Maine (NEWS CENTER) - No one would argue that the Portsmouth Naval Shipyard is a major economic engine for Southern Maine and the New Hampshire Seacoast.

A new financial report backs that up. In the past year employment, payroll and contracts for the yard are all up. The report put out by the Seacoast Shipyard Association shows the Portsmouth Naval Shipyard had an economic impact of 660-million dollars on the area last year.

 But there's something looming that could kill the yard's momentum, Sequestration, also known as the Budget Control Act of 2011. It means shipyard workers will be forced to take one day a week off without pay for twenty-two consecutive weeks. Because of that backers of the yard say the rosy economic impact study they just released will look very different next year.

"You're not going to see our cars at the malls or at the movie theaters or restaurants. You're not going to see us supporting the community in ways that we have in the past", said Paul O'Connor, President of the Metal Trades Council.

Talks are underway as to how those furloughs at the shipyard will happen. It's very likely the entire yard could shutdown for a day each week.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NEWS CENTER

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