MARAD Awards $9.8 Mln to US Shipyards

September 6, 2017

Aiming to support shipbuilding modernizations that will increase productivity and allow U.S. shipyards to compete more effectively in global markets, the U.S. Department of Transportation’s Maritime Administration (MARAD) has awarded $9.8 million to 18 U.S. yards through its Small Shipyard Grant Program.

“Small shipyards play a significant role in our country’s maritime sector, which contributes to our economy, security, and infrastructure,” said U.S. Transportation Secretary Elaine L. Chao.  “In addition, these grants will support local communities by creating jobs for working families.”
© wi6995 / Adobe Stock
© wi6995 / Adobe Stock
Small shipyard facilities vary in size, from family-owned businesses employing a few dozen workers, to multifaceted establishments with hundreds of employees. The grants, which were primarily available to U.S. shipyards with less than 600 production employees, are generally less than $1 million each, but can make a huge difference in a shipyard’s bottom line. 
“U.S. shipyards produce some of the world’s best-built vessels,” said Maritime Administrator Mark H. Buzby. “These grants will fund the kinds of upgrades and modernization that ensure America’s shipbuilding industry remains strong and competitive internationally.”  
A complete list of shipyard grant recipients follows:
Since 2008, MARAD’s Small Shipyard Grant Program has awarded $174 million to 169 small shipyards, helping them to modernize operations, improve efficiency and boost productivity with employee training and new technologies. Including direct, indirect, and induced impacts, total economic activity associated with American shipyards is nearly 400,000 jobs, $25.1 billion of labor income, and $37.3 billion in GDP.

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