The U.S. Department of Transportation’s Maritime Administration has awarded $9.8 million in grants to 19 small shipyards in the US.
The grants are part of the new Assistance to Small Shipyards program, set up under the National Defense Authorization Act for Fiscal Year 2006.
“Small shipyards are vitally important for the health of the maritime industry, and for the economy of the Nation,” said Maritime Administrator Sean T. Connaughton.
The purpose of the grants is to make capital and infrastructure improvements that facilitate the efficiency, cost-effectiveness and quality of domestic ship construction, conversion or repair for commercial and federal government use. The grants cover a maximum of 75% of the estimated cost of improvements. The companies are responsible for the remainder.