The U.S. Department of Transportation’s Maritime Administration (MARAD) announced $8.75 million in grant awards to 15 small shipyards in 12 states through the Small Shipyard Grant Program. The funds will help shipyards modernize, increase productivity, and expand local job opportunities while competing in the global marketplace. 

“Small shipyards are integral to the strength of America’s supply chains and the maritime industry” said U.S. Transportation Secretary Pete Buttigieg. “With the grants announced today, The Biden-Harris Administration is delivering funding that will create jobs in cities and towns across the country, strengthen our commercial fleet, and add power to our national economy.”

The shipbuilding industry enhances the United States’ national and economic security. In addition to the direct output and employment the industry generates, companies in the shipbuilding and repairing industry purchase inputs from other domestic industries, contributing to economic activity in those sectors. Across the United States, shipbuilding directly provides over 100,000 jobs and over $40 billion in GDP. Since 2008, MARAD’s Small Shipyard Grant Program has awarded $311.7 million in 365 grants to nearly 200 shipyards in 33 states and territories throughout the U.S.

“Continued investment in our small shipyards enables them to acquire the cutting-edge technologies needed to remain competitive elements of America’s maritime industry.” remarked Maritime Administrator Ann Phillips. “These grants stimulate economic development by boosting opportunities for good jobs in the communities where shipyards are located.”

Source: MARAD

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	Issue 91 of Robban Assafina (May/ June 2024)