Small Shipyards in 20 States Get Nearly $21M in Grants

The U.S. Maritime Administration – known by the acronym MARAD – recently awarded $20.8 million in funding to 27 small shipyards in 20 states through its Small Shipyard Grant Program.

[Above photo via MARAD]

Maritime Administrator Ann Phillips noted those funds will help shipyards modernize, increase productivity, and expand local job opportunities while competing in the global marketplace.

“As shipbuilding technologies continue to advance, Small Shipyard Grants help America’s shipyards acquire the equipment they need to compete, thrive and expand America’s maritime industry,” she said in a statement. “These grants are also economic boosts to the communities in which shipyards are located as well as to our industrial supply chain.”

Since 2008, MARAD said its Small Shipyard Grant Program has awarded $303 million to nearly 350 shipyards in 32 states and territories throughout the United States. In July 2022, MARAD awarded $19.6 million in grants to 24 small shipyards in 19 states through this program.

A report issued by MARAD in June 2021 indicates shipbuilding and repair activity at both the national and state level by private U.S. shipyards in calendar year 2019 supported $42.4 billion worth of gross domestic product.

MARAD’s report, entitled “The Economic Importance of the U.S. Private Shipbuilding and Repairing Industry,” found that the nation’s 154 private shipyards directly provided more than 107,000 jobs and contributed $9.9 billion in labor income to the national economy in 2019. On an annual nationwide basis – including direct, indirect, and induced impacts – the industry supported 393,390 jobs, $28.1 billion of labor income, and $42.4 billion in GDP, the agency said.

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