February 17, 2020: The U.S. Department of Transportation’s (USDOT) Maritime Administration (MARAD) awards more than $280 million in discretionary grant funding, through the new Port Infrastructure Development Program, to improve port facilities at or near coastal seaport.
“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 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. It also 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.”