General Dynamics Electric Boat
On 5 February 1942, the US Navy purchased the former Groton Iron Works property from Alfred Holter and Shell Oil Company for $222,000 using condemnation proceedings. $9.5 million was spent to construct the Victory Yard, where General Dynamics Electric Boat began building submarines on 22 July 1942. On 3 November 1943 a Federal Court Committee awarded an additional $203,000 to the former owners.