MarAd shipyard program gets funding boost
The U.S. Maritime Administration has received $100 million for its Small Shipyards Grant Program, a 10-fold increase over the $10 million at which the program had been funded in 2008.
MarAd received funding under terms of the American Recovery and Reinvestment Act.
The program provides 75 percent federal funds with 25 percent matching funds from the shipyard for capital improvements and related infrastructure improvements, which will foster efficiency, competitive operations and quality ship construction and repair.
Grant funds may also be used for maritime training programs to foster technical skills and operational productivity.
Of the $100 million, $75 million is reserved for shipyards with 600 employees or less and up to $25 million may be awarded to yards with up to 1,200 employees.
Applications must be filed by April 20 and awards must be made by the MarAd by Aug. 17.