The US government earmarked $1bn grant to fund upgrades of American infrastructure. The US Department of Transportation (USDOT) published a notice of funding opportunity (NOFO) for $1bn grant funding towards infrastructure projects across the country. The move fell short of a long hope for an infrastructure bill from the Trump administration.
The transportation grant will be awarded on a competitive basis for projects including upgradation of American roads, railway network, bridges, as well as ports or intermodal logistics network. Fifty percent of funding is targeted toward rural areas with a maximum of $100mn to be awarded to a single state.
USDOT also announced $520.5mn towards airport infrastructure grants for upgrades at 287 airports in 41 states. Chicago’s O’hare is the largest recipient with $65mn toward construction of a runway. In the past two years, $11.4bn have been invested in airports.
A discretionary grant of $280mn was awarded to support port infrastructure programs. Major ports for steel trade in Texas, California, Georgia, and Florida will receive funds for necessary upgrades. Investments are expected to increase or support demand for steel in these projects.