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UK GDP has fallen, but recovery is in sight

US spends $703 million on port development

The fund will develop coastal, Great Lakes and inland river ports. They aim to improve supply chain reliability, electrify equipment, develop or build new rail and motorway links, stimulate offshore wind projects and reduce greenhouse gas emissions.

The projects are funded by a $1 trillion bipartisan infrastructure bill signed into law by President Joe Biden in November 2021.

“We are providing record levels of funding to improve our port infrastructure, strengthen our supply chains and lower costs for American families,” said Transportation Secretary Pete Buttigieg.

The state of Alaska is receiving $112.5 million for four projects, including $68 million for the expansion of Anchorage Harbor and $10.2 million for repairs to the main harbor and $5.4 million for the floating dock project.

New York will receive $48 million for the Arthur Gill offshore wind terminal project. The Staten Island project would fund the construction of 740,000 cubic yards of 35-foot-deep shipping docks.

Salem, Massachusetts, has received nearly $34 million to redevelop a vacant industrial facility for offshore wind energy projects, including construction of a 700-foot-long wharf.

Senator Ed Markey, Democrat of Massachusetts, said, “This plan will strengthen our grid by spurring clean energy infrastructure and help power thousands of homes across Massachusetts.”

The Port of Columbus, Mississippi, is getting $6 million for a new 10,000 linear-foot rail spur that will provide direct rail access to ship cargo between barges and railcars.

Detroit is getting $16 million to rehabilitate existing port infrastructure and build a new port/rail link.

Camden will receive $25 million to upgrade an operationally obsolete truck road leading to the Port of New Jersey, rebuilding nearly three miles of major road infrastructure.

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Long Beach, California will receive $30 million to replace diesel yard tractors with 60 electric yard tractors and other equipment.

Grays Harbor Terminal Aberdeen, Washington, will receive $25.5 million to build an additional 50,000 feet of rail track and redevelop a 50-acre brownfield site for freight.