Department of Transportation (DOT) officials said the agency has earmarked over $220 million in grant funding to 15 states and territories via the Maritime Administration’s (MARAD) Port Infrastructure Development Program.
“This $220 million in federal grants will improve America’s ports with nearly half the projects are located in Opportunity Zones, which were established to revitalize economically distressed communities,” Secretary of Transportation Elaine L. Chao said.
Authorities indicated the Port Infrastructure Development Program seeks to support ports and industry stakeholders in enhancing facility and freight infrastructure to ensure the nation’s present and future freight transportation needs are met.
“This critical investment demonstrates the Trump administration’s commitment to supporting our nation’s ports and maritime industry,” Maritime Administrator Mark H. Buzby said. “These grants will help our nation’s economy and ensure that America’s ports can continue to operate effectively in the competitive global marketplace.”
The Port Infrastructure Development Program also aids ports by providing planning, operational, capital financing, and project management assistance to improve capacity and efficiency.
The DOT maintains maritime ports that serve as links in the domestic and international trade supply chain. The funding allotment assists in the improvement of port facilities at or near coastal seaports.
Additionally, officials noted ports provide jobs and are essential to a nation heavily relying on its maritime services. By providing the funding to support the infrastructure improvement component, MARAD and the DOT ensure the services will succeed during the nation’s ongoing economic recovery, per authorities.