Maritime Administration announces more than $280 million in grants for US ports
- February 14, 2020
- Posted by: poa
- Category: Port News
American Journal of Transportation
New grants will provide critical infrastructure support
Washington, DC – The U.S. Department of Transportation’s (USDOT) Maritime Administration (MARAD) today announced that it has awarded more than $280 million in discretionary grant funding through the new Port Infrastructure Development Program. This funding is designed to improve port facilities at or near coastal seaports.
“Ports are gateways to the world and port infrastructure investments will improve the regional economy, increase productivity and economic competitiveness, and create more jobs,” said U.S. Transportation Secretary Elaine L. Chao.
The Port Infrastructure Development Program supports efforts by ports and industry stakeholders to improve facility and freight infrastructure to ensure our nation’s freight transportation needs, present and future, are met. The program provides capital financing and project management assistance to improve port capacity and efficiency. Of the 15 projects that were awarded grants, six are located in Opportunity Zones, which were created to revitalize economically distressed communities using private investments.
“We are very excited to have the opportunity to work more directly with America’s ports to enhance their facilities,” said Maritime Administrator Mark H. Buzby. “The grants awarded will ensure that these facilities are operating at their highest, most productive capacities.”