The funds will help awardees modernize, increase productivity, and expand local employment opportunities while competing in the global marketplace. Since 2008, MARAD’s Small Shipyard Grant Program has awarded $262.5 million to nearly 300 shipyards in 32 states and territories throughout the U.S.
“Small businesses are the backbone of the American economy, and small shipyards play a critical role in America’s maritime industry,” said U.S. Secretary of Transportation Pete Buttigieg. “These grants go directly to small shipyards across the country and will help protect and create local jobs, strengthen America’s maritime industry, and bolster our economic security.”
“These grants will help small businesses do what they do best: build essential infrastructure while creating long-term jobs for American workers,” added Lucinda Lessley, Acting Maritime Administrator. “Better equipment means increased productivity and more ships moving through our small shipyards—and more ships mean more local jobs.”