California's Mare Island Dry Dock to close permanently

"The company has been a significant contributor to the local economy, supporting jobs and generating economic activity for Vallejo, Solano County, and the surrounding region," the City of Vallejo said in a social media post on New Year's Day.

"According to MIDD, the closure stems from unforeseen business circumstances, including the loss of a critical US Coast Guard contract that had an immediate and material impact on the company’s financial stability. Despite efforts to secure additional financing and contracts, MIDD determined that continuing operations was no longer viable."