Newsroom: Press Releases
Lautenberg, Menendez Announce
Nearly $1 Million in Funding for Yank
Marine's Tuckahoe Shipyard
Funding will go Towards the Purchase
of a 300-ton Marine Lift, Creating New
Economic Opportunities
Lautenberg Press Office 202-224-3224
Monday, August 15,
2011
NEWARK - US Senators Frank Lautenberg (D-NJ) and Robert Menendez (D-NJ) and today announced the US Department of Transportation US Maritime Administration has awarded Yank Marine, Inc. in Tuckahoe, NJ $961,676 in funding.
The funding was awarded through the Small Shipyard Grant Program for the purchase of a 300-ton marine lift that will directly translate into new business and economic activity in the area. This is the first time any entity n NJ has been awarded this type of grant.
"This grant is an investment in modernizing New Jersey's local maritime economy," said Senator Lautenberg, Chairman of the Commerce Subcommittee on Surface Transportation and Merchant Marine Infrastructure, Safety and Security. "These funds will make possible an equipment upgrade at Yank Marine that will make it more competitive. Our shipyards form an invaluable network, allowing us to build and repair ships throughout the United States.”
“With this grant, Yank Shipyard will not only be able to expand its services and increase productivity, it will be able to create new economic opportunities for workers throughout the area,” said Senator Menendez. “Simply put, strengthening our local businesses strengthens our economy and our future.”
The U.S. Martime Administration’s (MARAD) Small Shipyard Grants Program provides money to help this critical segment of America’s maritime industry invest in new equipment, increase competitiveness, and protect good paying jobs.
The grant will be used to purchase a new 300 metric ton Marine Travelift, replacing the current 200 metric ton lift.
Yank Marine has operated its Tuckahoe facility for more than 40 years and has repaired thousands of boats, commercial and fishing craft, military vessels and a large array of Coast Guard certified passenger vessels.
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