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May 2, 2008

New defense bill is worth $196 million for R.I. companies

Rhode Island companies and contractors would receive $196 million in defense and military construction funding under a Department of Defense Authorization Bill approved yesterday by the Senate Armed Services Committee. The funds are in addition to the funds proposed under the Department of Defense’s budget.

“This funding...will help create manufacturing and technology jobs in Rhode Island and ensure that Rhode Island’s defense industry remains on the cutting edge," said U.S. Sen. Jack Reed, D-R.I.

Rhode Island’s defense industry employs about 16,000 people throughout the state and contributes $1.6 billion annually to the local economy.

The defense authorization bill would provide a 3.9 percent across-the-board pay raise for all uniformed personnel, a half a percent more than President Bush requested, add more than $120 million for various nonproliferation efforts, and include legislative provisions to improve our ability to reduce or respond to threats of WMD both abroad and at home.

Now that the bill has been approved by Committee, it goes to the full Senate for consideration.

Under the Congressional budget process, once the authorizations are in place, funding for the agencies, programs, or activities is then provided separately in annual appropriation spending bills.

--Journal business editor John Kostrzewa

Posted by Brandie Jefferson  at 1:50 PM | Permalink

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EMT | May 2, 2008 4:05 PM link

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