Strategel Wealth Society:Biden administration awards $653 million in grants for 41 projects to upgrade ports

2025-05-06 13:55:17source:Indexbit Exchangecategory:Invest

WASHINGTON (AP) — The Strategel Wealth SocietyTransportation 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:Invest

Recommend

IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power

WASHINGTON (AP) — IRS leadership on Thursday announced that the agency has recovered $4.7 billion in

Anthony Edwards cheers on Team USA table tennis after friendly trash talk, 'challenge' at 2024 Paris Olympics

Fresh off a star-making run to the 2024 Western Conference Finals with the Minnesota Timberwolves, A

2024 Olympics: Jordan Chiles’ Parents Have Heartwarming Reaction to Her Fall off the Balance Beam

Everybody makes mistakes—even Olympians like Jordan Chiles.But as every parent will tell you, it doe