Fincantieri Marinette Marine Creates Childcare and Dependent Support Program Company Offsets Childcare Expenses with $5,000 Tax-free Contribution

MARINETTE, WISCONSIN – In a move to support its workforce, Fincantieri Marinette Marine (FMM) is providing eligible employees with a $5,000 tax-free benefit for childcare or dependent family member care in 2025.

Recognizing the burden of rising childcare costs, FMM employees highlighted this concern in annual surveys. After consulting with the Navy, FMM leadership decided to implement a program to assist families with dependent care expenses as well. Each eligible family will receive a $5,000 tax-free benefit through a flexible spending account, enhancing their overall benefits package.

"We listened to our employees' concerns and understand the challenges they face while building the Navy’s Constellation-class Frigates," said Mark Vandroff, CEO of FMM.   

The childcare stipend is one of several initiatives FMM has introduced to support shipbuilders and their families. This month, hundreds of frigate program shipbuilders will receive their second cash bonus of the year, amounting to $5,000 for 2024. The Blue-Collar Retention Bonus, introduced this year, makes certain employees eligible for up to $10,000 in 2024-2025. 

Fincantieri Marine Group CEO Marco Galbiati thanked Congress and military leaders for funding these initiatives. "We are grateful to the U.S. Navy and Congress for supporting our blue-collar workforce, and we appreciate their continued support of shipbuilding." 

With six frigates under contract and four additional ships expected to be awarded in the coming years, FMM is committed to stabilizing its workforce to continue building ships for the Navy. FMM received the frigate contract in April 2020, to build the first-in-class USS Constellation and up to nine additional ships. The initial contract was for $795 million, but options drive the overall contract value to more than $5 billion. Since award, FMM has been actively recruiting and retaining several hundred shipbuilders in an extremely tight labor market for American shipbuilding.

Fincantieri Marine Group oversees three Fincantieri shipyards in Wisconsin; including Marinette Marine, Bay Shipbuilding in Sturgeon Bay, and ACE Marine in Green Bay.

Point of contact: 
Eric Dent, APR
Director of Communication
Fincantieri Marine Group
202-488-4783
eric.dent@us.fincantieri.com

Fincantieri, a global leader in shipbuilding, employs over 21,000 professionals across 18 shipyards worldwide. In the United States, Fincantieri Marine Group operates three Wisconsin shipyards, serving commercial and government clients, including the U.S. Navy and Coast Guard.