$9.4 million available in shipyard grants

Under the Maritime Administration’s Small Shipyard Grant Program, there is currently $9.45 million available for capital and related improvements to qualified small shipyard facilities.

The grants will be awarded to small shipyard projects that will improve efficiency, make operations more competitive, and lead to quality ship construction, repair, and reconfiguration. Shipyards must be in a single geographical location, located in or near a maritime community, may not have more than 1,200 production employees, and must construct, repair, or reconfigure vessels 40′ or longer. According to Marad, the number of applications will likely exceed available funds and only a small percentage of applications will be approved. 

Marad estimates that up to 10 applications will be selected with an average grant of about $1 million. Applications must be received by May 28, and Marad intends to award grants no later than July 24.

 

About the author

Workboat Staff

Leave A Reply

© Diversified Communications. All rights reserved.