PAWTUCKET – Two local shipbuilding firms have been selected to receive more than $2.6 million in federal stimulus funding, U.S. Rep. Patrick Kennedy announced yesterday.
Senesco Marine LLC in North Kingstown and Blount Boats Inc. in Warren are set to receive the funding through the U.S. Maritime Administration’s Assistance to Small Shipyards program, which received $98 million in the stimulus package signed by President Barack Obama in February.
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Senesco Maine will receive $1.8 million for a transporter and four overhead cranes, while Blount Boats will receive $868,186 for a hydraulic shear, brake press and plate roller, Kennedy’s office said. They are among 70 shipyards nationwide sharing the stimulus appropriation.
“Shipbuilding has always been an integral element of our economy in the Ocean State,” Kennedy, D-R.I., said in a statement. “This funding will help these shipyards make much-needed improvements that will create and preserve quality jobs. By making these investments now, we can reinvigorate this important industry and position it to grow for years to come.”
The federal funds do not cover the total cost for the improvement projects. The program requires the shipyard to kick in 25 percent of the cost, while the federal government picks up the other 75 percent.
Senesco Marine, formerly the Southeastern New England Shipbuilding Corp., was acquired in 2006 by Reinauer Transportation Companies LLC.
