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MARAD Makes $19M Available for Shipyard Grants

Monday, April 23, 2018

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The U.S. Department of Transportation’s Maritime Administration (MARAD) announced last week that it has $19.6 million set aside for this year’s Small Shipyard Grants, aimed at fostering efficiency, competitiveness and quality among the nation’s smaller shipbuilding and ship-repair facilities.

Ship repair
© iStock.com / 1905HKN

MARAD is offering $19.6 million in Small Shipyard Grants this year, double what the agency offered in the program last year.

The total funding made available in this year’s budget doubles the $9.8 million that was doled out in 2017. The administration says it anticipates awarding grants averaging around $1 million each to somewhere between eight and 20 entities this year. The grants should be used for capital improvements or working training, but not land acquisition or the construction of buildings or other facilities.

MARAD advises based on past experience that applications will greatly outnumber grant availability, so not all applicants will receive grants. Applications are due to MARAD by 5 p.m. May 22.

Program History

Last year’s grants covered expenses ranging from confined-space surface preparation equipment and painting facility upgrades to lifts and floating drydocks. Most grants in 2017 were in the $500,000 range, with the largest single grant totaling $990,000.

In its first 10 years, the Small Shipyard Grants program awarded $174 million to 169 small shipyards, according to MARAD.

For information on submitting an application for the program, click here.

   

Tagged categories: Department of Transportation (DOT); Funding; Government; Ships and vessels; Shipyards

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