The U.S. Department of Transportation’s Maritime Administration (MARAD) recently announced nearly $450 million in newly available grant funding for port-related projects through the Port Infrastructure Development Program (PIDP)—by far the largest investment in the program ever. These grants will help ports expand capacity and improve the movement of goods through the nation’s supply chains.
The announcement comes after passage of the Bipartisan Infrastructure Law signed into law late last year, and is nearly double last year’s investment in PIDP for states and port authorities. In total, the Bipartisan Infrastructure Law will invest $17 billion in ports and waterways.
Marine manufacturers rely on a highly integrated supply chain to meet consumer demand. NMMA said this new funding for port infrastructure is a strategic investment which will help alleviate congestion in the supply chain and assist U.S. marine businesses in providing for the recreational boating industry at a time of record growth.
These grants demonstrate continued action on the administration’s Port Action Plan, which will strengthen supply chains to meet demand resulting from the rapid economic recovery over the past year, and help address inflationary pressures. These grants also meet policy recommendations in DOT’s one-year supply chain report that is focused on improving the movement of goods from ships to shelves.