Supply Chain News: Historic New Funding to Strengthen Port Infrastructure and Supply Chain Resiliency
On February 23, the Department of Transportation announced a historic level of newly available grant funding for port-related projects.
President Biden and U.S. Department of Transportation Announce Historic New Funding to Strengthen Port Infrastructure and Supply Chain Resiliency
February 23, 2022
The U.S. Department of Transportation’s Maritime Administration (MARAD) 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 can help ports expand capacity and improve the movement of goods through our supply chains.
These grants demonstrate continued action on commitments in the Biden-Harris Administration’s Port Action Plan, which will strengthen our 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, expected to be released on February 24, that is focused on improving the movement of goods from ships to shelves.
Read the Department of Transportation’s press release here.