New London Shipyard Receives $300K Federal Grant

NEW LONDON, CT — The Thames Shipyard & Repair Company of New London has been awarded $309,853 in grants through the federal Small Shipyard Grant Program. The company will use these funds to purchase water-jet surface preparation equipment.

Small shipyard grant funds help companies modernize, increase productivity, and expand local employment opportunities while competing in the global marketplace, according to a statement.

“Small shipyards strengthen America’s commercial fleet, bolster our economic security, and generate good jobs,” U.S. Transportation Secretary Pete Buttigieg said in a statement. “We are proud to support these shipyards reinforce their vital role in the U.S. maritime sector.”

Since 2008, the Small Shipyard Grant Program has awarded $303 million to nearly 350 shipyards in 32 states and territories throughout the U.S.