The U.S. Department of Transportation’s Maritime Administration (MARAD) announced it would invest nearly $500 million to revitalize American ports, shipyards and maritime capabilities.
Officials said MARAD would provide $488,628,000 in funding for project that improve ports’ ability to load and unload goods, streamline supply chain movements, modernize port infrastructure and operation, and support American seafood and seafood-related businesses.
“America’s ports fuel our economy, bolster domestic energy, and cut costs for hardworking families, making them worthy of taxpayer investment,” MARAD Administrator Stephen M. Carmel said.
Part of the Port Infrastructure Development Program (PIDP) established as part of the Infrastructure Investment and Jobs Act passed in 2021, the funding will be made available to projects that aim to modernize ports, strengthen supply chains and drive down costs for American families. The discretionary grant program is open to projects that improve safety, efficiency or reliability of the nation’s more than 300 ports. The program’s criteria includes priorities for projects located in Qualified Opportunity Zones, projects that incorporate innovative technology, and projects that support national multimodal freight goals.
MARAD said the PIDP program will also allocate at least 25 percent of the available funding to “Small Projects at Small Ports” where eligible applicants include port authorities, states, local governments, indigenous Tribal nations, counties, and other entities.
The PIDP provided $2.25 billion from 2022 through 2026, of which $450,000,000 is available for 2026. An additional $103,330,000 was included in the FY 2026 Appropriations Act. Of that, $38,628,000 is available to be awarded as discretionary grants.