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White House announces $14 billion investment in ports and waterway infrastructure

Industry News, News | January 25, 2022 | By:

The White House announced it will invest more than $14 billion in funding in fiscal year 2022 for more than 500 port and waterway infrastructure projects across 52 states and territories using money from the bipartisan Infrastructure Investment and Jobs act, which was signed into law in November of 2021.

This investment will allow for the U.S. Army Corps of Engineers to increase climate resiliency measures and make long overdue improvements at ports and waterways, while addressing supply chain issues that have hindered manufacturers across an array of industries, including marine manufacturing.

Further, this investment will improve boating access and water quality across the states. Key investments in this week’s announcement include:

  • More than $1 billion for South Florida Ecosystem Restoration program, marking the largest single investment in U.S. history to restore, protect and revitalize the Everglades and increase its resiliency to the effects of climate change.
  • More than $2 billion to improve coastal resiliency and protect against flooding events.
  • $4 billion to expand capacity at key ports, allow passage of larger vessels and further enhance the country’s ability to move goods.

Additional information and a full list of projects receiving funding can be found here.

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