Author: Jane Edwards|| Date Published: June 3, 2020
The Department of Defense plans to use $688M in funds under the Coronavirus Aid, Relief and Economic Security Act to address the financial impacts of the COVID-19 pandemic on the defense industrial base and promote local job creation efforts, Defense News reported Tuesday.
DoD plans to obligate $171M in CARES Act funds for the aircraft propulsion sector; $150M for space launch; $150M for shipbuilding and submarine launch equipment; $80M for microelectronics; $62M for body armor suppliers; and $40M for suppliers of high-temperature materials used in the development of hypersonic weapons.
The proposed investments are part of a spending plan for $10.5B in funds the Pentagon received through the $2.1T CARES Act. DoD submitted the spending plan to Congress Friday.
The department has so far obligated only 23 percent of the $10.5B allocated through the coronavirus relief package, according to the report.
AeroVironment has tapped Robert “Rob” Smith as executive vice president and chief operating officer. Smith’s appointment, which will become official April 13, underscores…
GreyNoise Intelligence has launched Command and Control Detection, a new intelligence module designed to identify active cyber compromises using outbound…
BigBear.ai has named Jo Ann Bjornson as chief human resources officer and Alex Thompson as chief corporate affairs officer. The new leadership appointments…
