US Government Invests in Small Shipyards

19 August 2009 (Last Updated August 19th, 2009 18:30)

The US Department of Transportation (DOT) has approved 70 grants worth $98m under the American Recovery and Reinvestment Act (ARRA) to upgrade small shipyards across the country. The DOT said the funds would help provide valuable employment training while also generating and preserving

The US Department of Transportation (DOT) has approved 70 grants worth $98m under the American Recovery and Reinvestment Act (ARRA) to upgrade small shipyards across the country.

The DOT said the funds would help provide valuable employment training while also generating and preserving jobs.

The Small Shipyards grant provides up to 75% in ARRA funds for a project and requires the remainder be matched by the shipyard.