Local shipyard to receive federal grant funds
Diversified Marine, Inc. is one of 24 companies receiving discretionary grant funds from the U.S. Department of Transportation's Maritime Administration Small Shipyard Grant Program.
The Portland company will be receiving $1,253,160 to be used toward the purchase of a 275-ton crawler crane.
Also awarded funds was WCT Marine & Construction Inc. of Astoria. They will be receiving $573,075 for a big top enclosed work structure, work pad with drains and filtration system.
"This $19.6 million federal government investment in the nation's small shipyards will help maintain the U. S. shipyard infrastructure of our country," said U.S. Secretary of Transportation Elaine L. Chao.
MARAD's Small Shipyard Grant Program provides funding to assist eligible shipyards in modernizing operations, improving efficiency, and reaping the benefits of increased productivity by investing in emerging technologies and a highly skilled workforce. Projects under the program include capital and related improvement projects that foster efficiency, competitive operations, and quality ship construction, repair, and reconfiguration. In addition, the program can fund training projects that promote employee skills and enhance productivity.
"Small shipyard grants play a significant role in supporting local communities by creating jobs for working families," said Maritime Administrator Mark H. Buzby. "These shipyards are a tangible investment in our nation's maritime infrastructure and the future of our maritime workforce."
The economic footprint of American shipyards is nearly 400,000 jobs, $25.1 billion of labor income, and $37.3 billion in GDP. Helping shipyards to upgrade and expand empowers this critical industry, allowing them to compete more effectively in a rapidly changing global marketplace. The capital provided to shipyards increases their repair and production footprints and creates more jobs throughout the country.
In 2013, Oregon shipyards supported more than 4,000 direct, indirect, and induced jobs and contributed more than $309 million in direct, indirect, and induced labor income to the Nation's economy.
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