Groton ― Electric Boat and the Metal Trades Council, a labor union representing more than 3,400 shipyard workers, announced that union members have ratified a new five-year contract that grants them significant increases in compensation and benefits, including a 21.4% hike in wages over the life of the deal.

The announcement came late Friday afternoon, a week after the parties’ negotiating teams had tentatively agreed to the new contract on Sept. 30, the day a previous, four-year contract expired.

MTC members work in the skilled trades, and include welders, electricians, machinists, pipefitters, laborers, painters and transportation services and administrative support employees.

In addition to the wage increases totaling 21.4%, the new contract provides for:

∎ Retention and sign-on bonuses of up to $6,000.

∎ A one-time, $2,500 contribution to employees’ 401(k) retirement savings accounts.

∎ Continuation of a comprehensive, competitive medical plan with modest premium and deductible increases.

∎ Increases in vacation days and paid sick time for most members.

“This is the largest wage package in more than 30 years and demonstrates the value we place on the skills and experience necessary to build the world’s finest submarines,” Kevin Graney, Electric Boat’s president, said in a statement released by EB, a division of General Dynamics. “This investment in our people complements investments by General Dynamics in our facilities and infrastructure and is a key element of our strategy to grow our production rate to deliver more submarines faster to the U.S. Navy.”

EB, in the midst of unprecedented expansion, is currently increasing production of Virginia-class fast-attack submarines and the Columbia class of ballistic missile submarines. The company is the prime contractor for the Columbia class, which the U.S. government has designated the nation’s No. 1 defense priority.

EB, which announced plans early this year to hire 5,750 new employees in 2023, advises potential job applicants to visit EBCareers.com to check on available positions.

“This new agreement will help attract and retain new employees while providing for the current membership,” Peter Baker, president of the Metal Trades Council, said. “This will also provide Electric Boat with a stable workforce that will continue to build our nation's defense. We want to thank the membership for their support throughout the negotiations process.”

U.S. Rep. Joe Courtney, D-2nd District, hailed the new contact.

“Ratification of this robust contract is a five-year ironclad guarantee of economic security for the Electric Boat metal trades workforce, which they richly deserve,” he said. “It also sends a powerful message to the Navy and Congress, who fund their work, that the Groton waterfront is in for the long haul as our nation grows its undersea fleet, a decades-long enterprise.”

“Kudos to Peter Baker and the Metal Trades Council team, and Shawn Coyne from Electric Boat Human Resources, who spent months hammering out the many details of this historic contract,” Courtney added.

EB, which designs, builds, repairs and modernizes nuclear submarines for the Navy, employs more than 21,500 people. General Dynamics, a global aerospace and defense company, employs more than 100,000 people and generated $39.4 billion in revenue in 2022.

b.hallenbeck@theday.com