MARAD Offers USD 20Mln to Small Shipyards

The U.S. Department of Transportation's  Maritime Administration (MARAD) has announced the availability of $19.6 million in federal funding to support capital improvements and employee training at small U.S. shipyards.

The grants are provided through the Small Shipyard Grant Program, and are available to U.S. shipyards with less than 1,200 production employees.

The grants support a variety of projects. This includes capital and related improvements as well as equipment upgrades that foster ship construction, repair and reconfiguration. The grants can also be used to cultivate maritime training programs intended to enhance employee skills and productivity.

"Potential applicants are advised that it is expected, based on experience, that the aggregate amount of requested funding among all applicants will far exceed the funds available and that only a small percentage of applications will be funded. It is anticipated that roughly 10–20 applications will be selected for funding with an average grant amount of about $1 million," said a notice issued by MARAD.

Applications for the grants are due by May 22, and Marad intends to award grants no later than July 23.

U.S. shipyards continue to create new jobs and strengthen the economy. In 2013, U.S. shipbuilders directly employed 110,000 U.S. workers and produced $37.3 billion in gross domestic product (GDP), according to the DOT.