As part of President Biden’s Investing in America agenda, the U.S. Department of Transportation’s Maritime Administration (MARAD) has announced a Notice of Funding Opportunity (NOFO) for the Port Infrastructure Development Program (PIDP). This initiative aims to enhance the nation’s ports and strengthen supply chains, ultimately benefiting the American economy and consumers.
Investing in Port Infrastructure
The PIDP focuses on modernizing coastal and inland waterway ports to bolster supply chains and economic security. With an annual funding of $450 million from FY 2022 to FY 2026, the program aims to reduce shipping time and costs, consequently lowering the price of goods for American consumers.
Eligibility and Competitive Grants
Eligible applicants for PIDP grants include port authorities, state and local governments, tribal nations, and other public entities. Grants are awarded competitively to support projects enhancing the safety, efficiency, and reliability of goods movement through ports and intermodal connections.
Project Impact and Future Growth
Projects funded by PIDP grants contribute to modernizing and expanding port capacity, facilitating the smooth movement of goods across the nation. With a focus on safety, efficiency, and future growth, these investments play a crucial role in supporting the nation’s freight transportation needs and enhancing port infrastructure.
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Source: Maritime Administration
