The U.S. Department of Transportation’s Maritime Administration (MARAD) has announced that up $684.3 million is available for Port Infrastructure Development Program (PIDP) grants – following additional funds made available by US President Joe Biden.
The funding will be awarded on a competitive basis to projects that improve the safety, efficiency, and reliability of the movement of goods in the port ecosystem.
The Appropriations Act signed by President Biden allocated an additional $234.3 million in funding for the programme.
“Under President Biden’s leadership, we are making a once-in-a-generation investment in our ports and intermodal infrastructure to move goods faster, strengthen supply chain resiliency, support economic vitality at both the national and regional levels, and address climate change and environmental justice impacts,” said Acting Maritime Administrator Lucinda Lessley.
The $684.3 million in funding for the PIDP grants is the highest level of funding ever made available for the programme, which is available for projects that improve the movement of goods to, through and around ports at coastal seaports, inland river ports, and Great Lakes ports.
As retailers have adjusted to consumer demand and started to stock up before inflation could drive costs higher, imports across US ports are expected to near-record volumes over the next few months – totalling 13.5 million TEU in H1 2022.