State to help finance Electric Boat expansion

Washington – Gov. Dannel Malloy is set to announce that the Department of Economic and Community Development will provide General Dynamics Electric Boat $10 million in assistance to help the submarine maker purchase one of the buildings that housed Pfizer before the pharmaceutical company moved out of properties in the state, a congressional source said.

Electric Boat will provide another $20 million for the purchase of the building, which now sits vacant, the source said.

Malloy plans a press conference at Electric Boat in Groton on Thursday “where he will join the company’s executives and staff to announce a substantial expansion of good paying jobs with good benefits at the iconic Connecticut company,” a statement from the governor’s office said.

Sen. Richard Blumenthal, Rep. Joe Courtney, D-2nd District, and other state lawmakers and officials will also attend the event.