CT Defense Industry Thrives Under President TrumpSeptember 20, 2017
The passage of the National Defense Authorization Act (NDAA) is good news for Connecticut.
Shares of arms manufacturers are surging on news of plans President Donald Trump plans to shift oversight of international non-military firearms sales from the State Department to the Commerce Department.
Connecticut has long housed some of America’s largest weapons manufacturers, who under Trump have seen a significant boost in government contracts. Electric Boat (EB) is one example. Due to U.S. naval expansion, EB plans to hire thousands:
EB spokeswoman Elizabeth Power said the shipyard hopes to hire 2,000 new employees this year and already has hired about half of them.
With the recent passage of the National Defense Authorization Act (NDAA), Connecticut stands to make billions not just from Electric Boat (EB) but programs like the F-35:
The spending bill also includes more than $12 billion for 94 Joint Strike Fighters across the Air Force, Navy and Marine Corps. It adds 24 more than Trump’s budget request. East Hartford-based Pratt & Whitney is the sole enginemaker for the F-35 Joint Strike Fighter.
The much-needed good news for Connecticut only gets better, as now small arms manufacturers like Colt Defense, O.F. Mossberg & Sons, and Charter Arms could see a renaissance in the private international arms market if Trumps moves forward with his plans to ease export rules:
While the State Department is primarily concerned about international threats to stability and maintains tight restrictions on weapons deals, the Commerce Department typically focuses more on facilitating trade.
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