With the objective of improving the U.S. port infrastructure, the U.S. Department of Transportation’s Maritime Administration recently announced that over $662 million in FY2023 funding will be made available through the administration’s Port Infrastructure Development Program.
The Port Infrastructure Program, which receives $450 million annually from President Biden’s infrastructure package, aims to provide grants to eligible applicants to finance port infrastructure projects, strengthen the supply chain, and eventually lower the cost of goods for U.S. citizens.
As reported by gCaptain:
MARAD’s Port Infrastructure Development Program provides discretionary grants to help eligible applicants critical port and port-related infrastructure projects. Applicants can include port authorities, states, local governments, indigenous Tribal nations, counties, and other eligible entities.
Grants are awarded on a competitive basis to support projects that “improve the safety, efficiency, or reliability of the movement of goods through ports and intermodal connections to ports.” MARAD will also consider how projects address climate change and sustainability, equity, and workforce development objectives.
“This funding will support efforts by ports and industry stakeholders to improve port and related freight infrastructure to meet the Nation’s freight transportation needs and ensure our port infrastructure can support future growth,” said Maritime Administrator Ann Phillips.“The program also includes a statutory set-aside for small ports to continue to improve and expand their capacity to move freight reliably and efficiently, support local and regional economies, and support supply chain improvement.”