MARAD Announces $500 Million in Funding for Port Infrastructure
As a part of President Biden’s Investing in America agenda, the U.S. Department of Transportation’s Maritime Administration (MARAD) published a Notice of Funding Opportunity (NOFO) for $500 million in Federal Fiscal Year 2024 funding through MARAD’s Port Infrastructure Development Program (PIDP).
Investments made under the PIDP focus on modernizing the Nation’s coastal and inland waterway ports as well as strengthening its supply chains and economic security for generations to come. PIDP funds will also aid in the reduction of carriers’ shipping time, costs and ultimately the price of goods for the American people. The Biden-Harris Administration’s Bipartisan Infrastructure Law provides $500 million annually, from FY 2022-FY 2026, in funding for the Program.
“Ports are central to our supply chains, and when ports run smoothly, it helps keep prices down, shelves stocked, and American farms and businesses selling their goods around the world,” said U.S. Transportation Secretary Pete Buttigieg. “After helping our supply chains recover from pandemic disruptions, today President Biden is announcing $500 million to further strengthen our ports and keep shipping costs down, now and for generations of Americans.”
MARAD’s PIDP grants help eligible applicants complete critical port and port-related infrastructure projects in urban, rural and tribal communities. Applicants include port authorities, state and local governments, indigenous tribal nations, counties, and other eligible public entities. Grants are awarded on a competitive basis to support projects that improve the safety, efficiency, or reliability of the movement of goods through ports and intermodal connections to ports.
“Projects selected to receive PIDP funding will support efforts by ports and industry stakeholders to modernize and expand port capacity to accelerate the movement of goods across the Nation,” said Maritime Administrator Ann Phillips. “PIDP is a powerful investment tool that is uniquely geared toward improving port and related freight infrastructure to meet the Nation’s freight transportation needs—while simultaneously ensuring our port infrastructure can support future growth, and enhance the safety, efficiency and reliability of the Nation’s ports.”
Projects funded in FY 2023 include a dock replacement in Alaska, on-dock rail improvements in California, pier infrastructure renovations in New Jersey, safety and capacity improvements at a tribal harbor in Oregon, a new barge terminal in Minnesota, safety improvements and electric vehicle charging infrastructure in North Carolina, a container yard expansion in Washington State, a wharf expansion at a port on the St. Lawrence Seaway in New York, a new facility for mooring barges in Arkansas, and 32 other projects around the Nation.
