PASCAGOULA, Miss. (July 21, 2011) — Huntington Ingalls Industries (NYSE:HII) today announced a substantial donation of 11 acres of prime property located at the Point in Pascagoula. This donation is appraised at $2 million and the property will be deeded to the State of Mississippi.
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"The donation of the Point property is another opportunity for Ingalls Shipbuilding to support the City of Pascagoula's long term development plan," said Ingalls Shipbuilding President Irwin F. Edenzon. "We value our partnership with the city of Pascagoula, Jackson County and State of Mississippi and our donation of this land further demonstrates our ongoing commitment to improving the communities where our employees live and work."
For a number of years, the City of Pascagoula has leased the donated area from Ingalls Shipbuilding. The land will now become part of the Public Trust Tidelands, which is held in trust by the Secretary of State.
"The City of Pascagoula will now be able to lease this land from the State, through a rent-exempt lease, for public access and public use," says Secretary Hosemann. "This will enable the City of Pascagoula to continue to expand the use of the property as a public park promoting access to the water."
"I don't think I can overstate what this opportunity means for the city and her citizens," said Robbie Maxwell, Mayor, City of Pascagoula "During the long and storied history of shipbuilding in Pascagoula, Ingalls has always been and continues to be a great community partner. Not only do you build the ships that protect our nation you also give so much to our local community."
Huntington Ingalls Industries (HII) designs, builds and maintains nuclear and non-nuclear ships for the U.S. Navy and Coast Guard and provides after-market services for military ships around the globe. For more than a century, HII has built more ships in more ship classes than any other U.S. naval shipbuilder. Employing nearly 38,000 in Virginia, Mississippi, Louisiana and California, its primary business divisions are Newport News Shipbuilding and Ingalls Shipbuilding. For more information, please visit www.huntingtoningalls.com.
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