The U.S. Department of Transportation Maritime Administration (MARAD) recently announced that $19.6 million in grant funds have been awarded to 24 small shipyards in 19 states to aid economic preparedness.
The initiative via the Small Shipyard Grant Program would help awardees modernize, bolster productivity and expand local employment opportunities, in addition to competing in the global marketplace.
“Small businesses are the lifeblood of the American economy and small shipyards play a critical role in America’s maritime industry, helping us get the goods we depend on every day,” Transportation Secretary Pete Buttigieg said. “These grants will help modernize small shipyards in communities across the country, creating and protecting local jobs, strengthening America’s maritime industry, and securing our economic future.”
The Small Shipyard Grant Program has awarded $282.2 million to nearly 300 shipyards in 32 states and territories since 2008.
“These grants will allow small businesses to do what they do best, which is to build essential infrastructure while creating long-term and well-paying jobs for Americans,” Maritime Administrator Ann Phillips said. “Better equipment means increased productivity and more ships and watercraft moving through our small shipyards. Growing this industry further supports and strengthens our domestic maritime industry.”
More information can be accessed by contacting Associate Administrator for Business and Finance Development David M. Heller.