Reed announces $745K for Newport Shipyard

NEWPORT – Newport Shipyard has won a $744,990 federal grant to make capital improvements that will help create jobs, increase economic activity and improve its building, service and maintenance capabilities, Sen. Jack F. Reed said.

Reed, D-R.I., led the effort to restore federal funding for the Small Shipyard Grant Program in the fiscal 2016 Omnibus Appropriations law. The program helps shipyards purchase needed equipment, improve efficiency and train a skilled workforce of contractors and welders for commercial shipyards, while also supporting the military shipbuilding industrial base.

Newport Shipyard will use the funds to help procure a new 200-ton Marine Travelift, Reed said in an April 18 release.

Newport Shipyard will provide matching funds and estimates the resulting projects will lead to 10-15 new jobs. •

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