The U.S. Department of Transportation’s Maritime Administration is offering $500 million in funding for port upgrades, as part of President Biden’s Investing in America agenda.
The U.S. Department of Transportation’s Maritime Administration (MARAD) has opened a $500 million funding opportunity for port upgrades through MARAD‘s Port Infrastructure Development Program (PIDP).
The funding opportunity is part of the Biden Administration’s Investing in America agenda and covers the 2024 fiscal year. The Bipartisan Infrastructure Law provides $500 million annually, from FY 2022-FY 2026, in funding for the program.
Designed to modernize coastal and inland waterway ports, the investment aims to bolster national supply chains, enhance economic security, and reduce shipping costs for consumers.
“Ports are central to our supply chains, and when ports run smoothly, it helps keep prices down, shelves stocked, and American farms and businesses selling their goods around the world,” said U.S. Transportation Secretary Pete Buttigieg.
“After helping our supply chains recover from pandemic disruptions, today President Biden is announcing $500 million to further strengthen our ports and keep shipping costs down, now and for generations of Americans.”
The funding is aimed at helping complete critical port and port-related infrastructure projects in urban, rural and tribal communities. Applicants can include port authorities, state and local governments, indigenous tribal nations, counties, and other eligible public entities.
According to the U.S. Department of Transportation‘s Maritime Administration, 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.
“Projects selected to receive PIDP funding will support efforts by ports and industry stakeholders to modernize and expand port capacity to accelerate the movement of goods across the nation,” said Maritime Administrator Ann Phillips.
“PIDP is a powerful investment tool that is uniquely geared toward improving port and related freight infrastructure to meet the nation’s freight transportation needs—while simultaneously ensuring our port infrastructure can support future growth, and enhance the safety, efficiency and reliability of the nation’s ports.”
Some of the projects funded in FY 2023 include a dock replacement in Alaska, on-dock rail improvements in California, pier infrastructure renovations in New Jersey, safety and capacity improvements at a tribal harbor in Oregon, a new barge terminal in Minnesota, safety improvements and electric vehicle charging infrastructure in North Carolina, and a container yard expansion in Washington State.
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