MARAD, $100m in Small Shipyard Grants
Under the terms of the American Recovery and Reinvestment Act, the Maritime Administration has received $100 million for the Small Shipyards Grant Program, which had been funded at $10 million in 2008. This program provides 75 percent federal funds with 25 percent matching funds from the shipyard for capital improvements and related infrastructure improvements which will foster efficiency, competitive operations and quality ship construction and repair. Grant funds may also be used for maritime training programs to foster technical skills and operational productivity.
Of the $100 million, $75 million is reserved for shipyards with 600 employees or less and up to $25 million may be awarded to yards with up to 1200 employees.
Applications must be filed by April 20, 2009 and awards must be made by the Maritime Administration by August 17, 2009. More information is available on the Maritime Administration web site: www.marad.dot.gov