Since acquiring the property of the former north florida shipyards, FMR has made significant investments more than 25 million dollars to modernize the facility and equipment

The Department of the Navy Naval Sea Systems Command awarded $220,020 to Fincantieri Marine Repair LLC on October 1, 2025, under the Improvement of Navy Ship Repair or Alterations Capability Program (CFDA 12.031) to acquire equipment supporting shipyard capacity expansion at its Jacksonville, Florida facility.

The award funds four equipment acquisitions: a mooring bollard upgrade, a press brake, an air compressor, and an ironworker. These projects increase fabrication capacity and support infrastructure at the shipyard's newly renovated pier-side berths. The mooring bollard upgrade enables larger vessels to berth during hurricane conditions. The air compressor integrates directly into the dock walls' pre-installed distribution system of utility trenches and piping.

The equipment purchases support Fincantieri Marine Repair's broader modernization of the former North Florida Shipyards property, which has already received over $25 million in capital improvements since acquisition. The company plans an additional $35 million in five-year investments and expects to expand its workforce from approximately 150 to 200–300 employees, primarily to service larger U.S. Navy vessels through acquisition of a new floating drydock.

Performance of work occurs in Jacksonville, Florida. The period of performance extends from October 1, 2025, through May 30, 2026, with $220,020 obligated. This is one of two federal project grants totaling $220,020 awarded to the recipient under CFDA 12.031 on the same date; both support equipment acquisitions for the same facility modernization initiative.

These include substantial improvements to transform the waterfront and upgrades to shipyard equipment, as part of an overall plan. Notably, FMR is working to acquire a new floating drydock that will significantly increase the size of vessels the shipyard can service. For example, FMR expects to hire 200 to 300 new workers due to this addition, more than doubling its current workforce of around 150 including permanent and temporary full time workers. FMR is planning to invest an additional 35 million dollars in the facility over the next five years. Overall, these improvements will lead to enhanced repair service capabilities for larger vessels particularly U.S. Navy vessels and will increase the number of jobs at the shipyard. To support this increase in shipyard capacity, FMR requires increased fabrication capacity and supporting equipment. FMR is requesting grant funding for four projects to acquire new equipment to support its planned capacity increases, as follows mooring bollard upgrade acquisition of a new press brake acquisition of a new air compressor acquisition of a new ironworker combined, these projects will create significant efficiencies by providing increased fabrication capacity and compressed, at each of the shipyards newly renovated pier-side berths. The air compressor project will be able to plug directly into the new dock walls pre-installed distribution system of utility trenches and piping systems. Finally, the mooring bollard upgrade project will allow larger vessels to berth at the shipyard, even during hurricane conditions.