MARAD Announces Nearly $20 Million for US Small Shipyards
The U.S. Department of Transportation’s Maritime Administration (MARAD) recently announced the availability of nearly $20 million in Fiscal Year 2022 Federal funding to support funding to help modernize U.S.'s small shipyards.
MARAD’s Small Shipyard Grant Program aims to strengthen the economic competitiveness of shipyards by providing grants that can be used to purchase equipment or train employees. In addition, the purchase of American-made manufacturing equipment with these, small shipyard grants support a wide range of jobs throughout our nation’s manufacturing base.
MARAD’s Small Shipyard Grant Program has awarded 299 grants totaling approximately $263 million since the program was first funded in 2008. Small Shipyard Grants are available to U.S. shipyards with fewer than 1,200 production employees. In April 2021, DOT announced $19.6 million in grant awards to 31 small shipyards in 15 states through the Small Shipyard Grant Program.
"America’s waterways and shipyards are vital to the American economy. These grants will help strengthen our shipyards and our national supply chains—helping to curb inflation and reduce delays for American consumers,” said U.S. Transportation Secretary Pete Buttigieg.
These grants will help President Biden’s efforts to boost domestic manufacturing and manufacturing jobs. Since President Biden has taken office, the U.S. has created 423,000 manufacturing jobs. Last year, the economy created more manufacturing jobs than any year since 1994.
“Small shipyards strengthen our maritime industry and communities along and near our nation’s ports and waterways, employing thousands of Americans who ensure we maintain expertise and skills critical to our economic and national security,” said Acting Maritime Administrator Lucinda Lessley. “In addition to being economic mainstays, U.S. shipyards demonstrate some of the most innovative shipbuilding in the world, and the Small Shipyard Grant Program encourages continued innovation.”
Applications for the grants are due by 5:00 pm EST on May 16, 2022.
