Biden administration announces funding for 15 small shipyards in 12 states

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced $8.75 million in grant awards to 15 small shipyards in 12 states through the Small Shipyard Grant Program. The funds will help shipyards modernize, increase productivity, and expand local job opportunities while competing in the global marketplace, according to MARAD's release.

The shipbuilding industry enhances the United States’ national and economic security. In addition to the direct output and employment the industry generates, companies in the shipbuilding and repairing industry purchase inputs from other domestic industries, contributing to economic activity in those sectors. Across the United States, shipbuilding directly provides over 100,000 jobs and over $40 billion in GDP. Since 2008, MARAD’s Small Shipyard Grant Program has awarded $311.7 million in 365 grants to nearly 200 shipyards in 33 states and territories throughout the U.S.