January 25, 2024

EDA: $2.3 Million Invested to Support Boatyard Modernization at the Port of Port Townsend, WA

Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is awarding a $2.3 million grant to the Port of Port Townsend, Washington, to support the acquisition of critical maritime infrastructure needed to expand port operations.

This grant will support the acquisition of a new, variable-width boat hoist with a 300-ton capacity to replace an existing, antiquated piece of machinery in use at the port’s boatyard. This EDA investment will be matched with $586,459 in local funds and is expected to create or retain 171 jobs and generate $12 million in private investment, according to grantee estimates.

“President Biden’s Investing in America agenda is making sure communities in Washington state and across the country have the resources they need for strong, resilient, and prosperous local economies,” said Secretary of Commerce Gina Raimondo. “We know the financial and emotional impact that natural disasters have on communities all over America. This EDA investment will ensure that Port of Port Townsend has the infrastructure needed to support their families, communities, and growing economy in the aftermath of these tragedies.”

“The Economic Development Administration works closely with local communities to develop place-based economic development to boost local economies,” said Assistant Secretary of Commerce for Economic Development Alejandra Y. Castillo. “This EDA investment will help ensure the Port of Port Townsend remains competitive by maximizing service and increasing capacity at its boatyard.”

“The Port is absolutely essential to Port Townsend’s economy—and by helping to fund a new piece of machinery for the boatyard, this EDA grant will help the Port expand its operations and become more efficient, all while creating new jobs,” said Senator Patty Murray. “I’ll keep fighting to bring federal dollars home to communities like Port Townsend to boost local economies and support workers.”

“Upgrading Port Townsend’s boat yard will help ensure that more local fishing and recreational vessels can get the service they need from nearby marine trades businesses,” said Senator Maria Cantwell. “This investment will help retain 171 jobs, attract $12 million in private investment, and grow port operations.”

“As someone who grew up on the Olympic Peninsula, I know how much our maritime sector means for our families and communities,” said Representative Derek Kilmer (WA-06). “This grant to modernize the Port of Port Townsend is a terrific shot in the arm for folks here. By bringing in a new boat hoist and upgrading the Port’s maritime capabilities, we’re creating jobs and paving a path for sustainable economic growth. This is how we support the backbone of our community – the small businesses, the hardworking individuals, and everyone who contributes to our local economy.”

This project is funded by the Disaster Relief Supplemental Appropriations Act, 2023, which provided EDA with $483 million in additional Economic Adjustment Assistance (EAA) Program funds for disaster relief and recovery for areas that received a major disaster declaration under the Robert T. Stafford Act as a result of Hurricanes Ian and Fiona, wildfires, flooding, and other natural disasters occurring in calendar years 2021 and 2022. Please visit EDA’s Disaster Supplemental webpage for more information.

About the U.S. Economic Development Administration (www.eda.gov)
The mission of the U.S. Economic Development Administration (EDA) is to lead the federal economic development agenda by promoting competitiveness and preparing the nation’s regions for growth and success in the worldwide economy. An agency within the U.S. Department of Commerce, EDA invests in communities and supports regional collaboration in order to create jobs for U.S. workers, promote American innovation, and accelerate long-term sustainable economic growth.

This post was originally published here.