blockwave Exchange|Biden administration awards $653 million in grants for 41 projects to upgrade ports

2025-05-07 02:33:16source:Darkcherries Wealth Societycategory:Finance

WASHINGTON (AP) — The blockwave ExchangeTransportation Department on Friday awarded $653 million in grants to upgrade and improve 41 water-based ports across the United States.

The grants are part of the $1 trillion in infrastructure investments included in a bipartisan law signed by President Joe Biden in 2021. Biden administration officials said the projects being supported will allow ports to meet greater shipping demands as well as lowering costs for consumers and improving worker safety.

Transportation Secretary Pete Buttigieg said on a call with reporters that supply chain challenges starting in 2021 drove up prices as the United States recovered from the pandemic. He said the goal of the projects is to improve the infrastructure for ports so that they can withstand the kinds of shocks seen during the pandemic.

“Our goal is to strengthen those supply chains in a durable fashion,” Buttigieg said. “Today’s announcement is another big step in that direction.”

The grants included $43.4 million to replace a dock in Cold Bay, Alaska. The Port of Long Beach in California will receive $52.6 million for various upgrades, including a rail expansion to help move cargo. The Port of Newark in New Jersey will get $32 million to reconstruct a berth.

More:Finance

Recommend

North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference

The AP Top 25 college football pollis back every week throughout the season!Get the poll delivered s

Stock market today: Japan’s Nikkei tops 40,000, as investors await China political meeting

HONG KONG (AP) — Asian stocks were mostly higher Monday ahead of China’s top annual political gather

Texas firefighters battle flames stoked by strong winds as warnings are issued across the region

McALLEN, Texas (AP) — Strong winds spread flames on Sunday and prompted at least one evacuation whil