MARAD announces shipyard grants

The US Department of Transportation announced 70 grants totalling $98 million in American Recovery and Reinvestment Act (ARRA) funds that will be used to improve small shipyards throughout the United States. The funds, awarded through the Maritime Administration’s Assistance to Small Shipyards program, will, says DOT, help create and preserve jobs, provide valuable employment training and make much needed improvements to shipyards across the country.

The Department of Transportation pulled an earlier announcement of ARRA grants under this program, which listed 67 recipients, as the process used did not fully meet all ARRA stipulations. The Small Shipyards Grant program provides up to 75% in ARRA funds for a project and requires the remainder be matched by the shipyard.