/ Financial / MARAD Providing $19.6M in Small Shipyard Grants

MARAD Providing $19.6M in Small Shipyard Grants

As reported by the AASHTO Journal: https://aashtojournal.org on January 28, 2020 - in Financial, News

The U.S. Maritime Administration issued a notice of funding opportunity on January 9 that made $19.6 million worth of federal funding available to support capital improvements and employee training at small U.S. shipyards.

[Above photo by the U.S. Navy]

Applications for that grant money is due by 5 pm EST on February 18, the agency said.

Rear Admiral Mark “Buz” Buzby USN (Ret.)

“U.S. small shipyards are the economic backbone for communities throughout the country,” noted MARAD Administrator Mark Buzby in a statement. “They are a proven, wise investment, leveraging the skills and expertise of our shipyard community, which in turn empowers our entire maritime industry.”

Available to U.S. shipyards with fewer than 1,200 production employees, MARAD’s said its small shipyard grant program supports a variety of projects, including capital and related improvements and maritime training programs to foster technical skills and operational productivity.

Since its inception in 2008, the agency said this grant program has awarded more than $223 million through 244 grants.

MARAD also noted that in 2013, the private shipbuilding and repair industry supported nearly 400,000 direct and indirect jobs nationwide, $37.3 billion in gross domestic product, and $25.1 billion in labor income.


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