President Donald Trump and Secretary of War Pete Hegseth announced plans for Arsenal-2, a new shipyard at Sparrows Point, Maryland, funded by a $6.6 billion investment from the Navy and private defense contractor Anduril Industries.
The project represents a combined investment of $3.7 billion from Anduril and $2.9 billion from the Navy. The shipyard is expected to be the largest of its kind built in the United States since World War II, according to the announcement.
Arsenal-2 will be designed to produce submarines, submarine components, autonomous underwater vessels, and critical components for Virginia-class attack submarines.
The project is projected to create over 3,100 new jobs in Maryland while supporting an additional 11,000 jobs across the nation.
"In a tremendous victory for our country and for the city of Baltimore, Anduril is investing $3.7 billion dollars in a state-of-the-art shipyard that will be known forever as Arsenal-2," Trump said at the announcement ceremony at the future site.