Shipyard Modernization Grant for Small US Yards
Small shipyards in US granted government finance to help them compete in global marketplace
U.S. Transportation Secretary Ray LaHood today announced $9.98 million in grants to 15 small shipyards throughout the United States to pay for modernizations that will increase productivity and help the country’s small shipyards compete in the global marketplace.
“In cities and towns across America, shipyards are creating jobs and keeping our nation's economy growing," said Secretary LaHood. "These small shipyard grants reflect the Obama administration's commitment to strengthening our transportation systems and creating an economy that's built to last."
The U.S Maritime Administration’s (MARAD) Small Shipyard Grants Program provides equipment and technical skills training for America’s maritime workforce, helping these businesses compete in the global marketplace while creating well-paying jobs at home.
“They will provide new tools and equipment to help maritime businesses sustain and create good American jobs through increased productivity and efficiency,” said U.S. Maritime Administrator David Matsuda. “These federal investments will fund shipyard essentials.”
MARAD received 141 grant applications requesting $123 million in assistance. The grants fund a variety of projects, including infrastructure improvements and modernizing equipment to increase the efficiency, competitive operations, and quality construction of vessels in U.S. shipyards.