WASHINGTON - U.S. Senators Barbara A. Mikulski and Ben Cardin (both D-Md.) today announced that Chesapeake Shipbuilding has been awarded a $545,504 Maritime Administration grant from the U.S. Department of Transportation (DOT) to purchase equipment and make improvements to the shipyard’s vessel assembly building. As Vice Chairwoman of the Senate Appropriations Committee, Senator Mikulski fought to put funds in the federal checkbook for DOT and the Maritime Administration’s Small Shipyard Grant Program.
“This grant is about jobs, jobs, jobs,” said Senator Mikulski, Vice Chairwoman of the Senate Appropriations Committee, which funds DOT. “These funds in the federal checkbook will help Chesapeake Shipbuilding expand and grow their business in a safe and efficient way. It will create jobs today in Salisbury in shipbuilding, and jobs tomorrow in Baltimore and up and down the East Coast.”
“Chesapeake Shipbuilding is known for two things; laying down quality vessels and creating quality jobs for Marylanders on the Eastern Shore. This federal investment will ensure that both traditions continue to expand,” said Senator Cardin who visited Chesapeake Shipbuilding during his Made in Maryland Tour. “I’ve seen the operation at Chesapeake Shipbuilding first hand and look forward to more Maryland built vessels contributing to the maritime industry in ports across America.”
These federal dollars will be used to purchase a 55-ton rough terrain mobile crane and purchase a permanent industrial gas distribution system, which will improve efficiency as well as alleviate a number of safety risks. The grant will also be used to make improvements to the shipyard’s vessel assembly building. These purchases and improvements will allow the shipyard to expand its capacity to meet increased market demand for new tug boats on the Eastern Seaboard.
Chesapeake Shipbuilding specializes in the construction of passenger boats, tugboats and ferries. Their location in Salisbury puts them close to suppliers in Norfolk, Philadelphia and Baltimore. Chesapeake Shipbuilding has been expanding their presence in Salisbury, and completed their fifth hull fabrication facility in December of last year. They employ more than 100 people.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
Will it still be considered a private business?
ReplyDeleteWill it share the profits of its company with the Feds?
Will taxpayers receive a % of profits?
Yes
ReplyDeleteNo
No
Investment in the growth of a successful business means more growth, more jobs and more tax revenues.
ReplyDeleteSo this grant is welfare for the workers and free money to the owner and investors? To put it in a nut shell. And we are paying for it? This is wrong in so many ways.
ReplyDeletenot what i want my tax dollars spent on. total BS to give this oney to a private business! why wouldn't the banks finance him?
ReplyDeleteThey have to put up their own matching share of the money. And I agree with 11:23. This is a good investment and will be repaid many times over. We should be proud to have a thriving business like Chesapeake Shipbuilding in our community.
ReplyDelete2:59 Kinda like all the subsidies that the farmers get?
ReplyDeleteMaybe they could make 2 ferries for Wicomico county that can operate when the tide is high or low or the wind is blowing from the north or south or the sun is shining or it is cloudy.
ReplyDeleteI got a business. I could stand to double my money for free. Where do I sign up?
ReplyDeleteGrant = Tax payer dollars. Just sounds nicer......
ReplyDeleteSo how many new, full time, living wage jobs will this create?
ReplyDelete