MARAD Offering Nearly $20 Million in Small Shipyard Grant Funding
The U.S. Department of Transportation’s Maritime Administration (MARAD) on Thursday announced the availability of nearly $20 million in Federal Fiscal Year 2023 funding to help modernize small U.S. shipyards and train the workforce in this sector.
MARAD’s Small Shipyard Grant Program provides grants that can be used by shipyards to purchase equipment or provide employee training.
“Small shipyards play vital roles in their local economies and our national economy,” said U.S. Transportation Secretary Pete Buttigieg. “With these funds, we are helping small shipyards across the country train their workers, modernize their equipment and improve their operations.”
MARAD’s Small Shipyard Grant Program has awarded 323 grants totaling approximately $282 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 July 2022, DOT announced $19.6 million in grant awards to 24 small shipyards in 19 states through the program.
“Small shipyards are essential to the U.S. maritime industry and critical to ensuring that we have a resilient industrial base,” said Maritime Administrator Ann Phillips. “These shipyards are an economic pillar, strengthening our maritime industry and the communities along and near our nation’s ports and waterways, and employing thousands of Americans, who ensure the nation maintains expertise and skills critical to our economic and national security.”