The investment will go toward a variety of upgrades including ship repair and construction facilities.

This is in addition to purchasing new equipment, including cranes, plasma cutters, and welding systems, and bolstering maritime training programs to supercharge the maritime workforce.

USDOT stated that eligible shipyards must be in a single geographic location and may not have more than 1,200 production employees.

Eligible shipyards must construct, repair, or reconfigure vessels 40 feet in length or greater for commercial or government use, or construct, repair, or reconfigure vessels 100 feet in length or greater for non-commercial vessels.

USDOT secretary, Sean P. Duffy, said “This 300% increase in shipyard investments underscores President Trump’s commitment to restoring America’s maritime dominance strategy.

“Revitalising this once great industry enhances our national security, reshores good paying jobs, and ensures goods get to where they need to go affordably.”