MARAD Offers $500 Million for Port Development
View SourceThe Department of Transportation’s Maritime Administration (MARAD) published a notice of funding opportunity for $500 million in fiscal year (FY) 2024 funding through MARAD’s Port Infrastructure Development Program (PIDP). PIDP aims to modernize the Nation’s coastal and inland waterway ports and contribute to its long-term economic security and strong supply chains. PIDP funds will also help reduce carriers’ shipping time, costs, and ultimately, the price of goods for the American people. A full list and descriptions of the 2023-awarded projects can be found on MARAD’s website.
The Infrastructure Investment and Jobs Act of 2021 provided $450 million annually for PIDP, from FY 2022-FY 2026. The deadline for FY 2024 app
