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MARAD Funding Available for Small Shipyards

Maritime Activity Reports, Inc.

May 25, 2017

© Bogdan Vasilescu / Adobe Stock

© Bogdan Vasilescu / Adobe Stock

The U.S. Maritime Administration (MARAD) has made available nearly $10 million in grant funding for improvements to small shipyards.
 
There is currently $9.8 million available under the Small Shipyard Grant Program for capital and related improvements to qualified shipyard facilities that will be effective in fostering efficiency, competitive operations and quality ship construction, repair and reconfiguration, MARAD said.
 
“Waterways and small shipyards are a critical component of our economic infrastructure and support thousands of jobs while helping us maintain our competitiveness as a nation,” said U.S. Transportation Secretary Elaine L. Chao. “As trade and exports grow, our shipyards and other waterway systems must be able to keep pace.”
 
“When it comes to American infrastructure, our shipyards are leading the way and currently producing some of the most modern and advanced vessels in the world,” said Maritime Administration Executive Director Joel Szabat. “They also provide quality jobs and support economic growth in local communities.” 
 
MARAD plans to select 5 to 12 applicants for funding with an average grant amount of about $1 million.
 
Eligible projects under the program include capital and related improvement projects that foster efficiency, competitive operations, and quality ship construction, repair, and reconfiguration. In addition, training projects that foster employee skills and enhance productivity will also be considered. 
 
Applications are due by July 5, 2017, and MARAD will award the grants no later than September 5, 2017.
 

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