No More Bottlenecks
With the pandemic came a supply chain crisis, and governments around the world took note.
That’s why the U.S. government is handing out multimillion-dollar grants to shipping ports to pay for upgrades to their cargo-handling infrastructure.
The grants are part of the White House’s $21 billion initiative to modernize port infrastructure across the nation.
In November, the Port of Baltimore, the largest U.S. port for rolling cargo imports, received $47 million in order to get its offshore wind manufacturing project off the ground, for example. Other uses for the funds include the construction of a new dock for rolling cargo, which includes products from the likes of John Deere (DE) and BMW (BMWYY).
Ports across the nation are seeing growth as companies lean more heavily on shipping to move products, as heavy truck traffic is clogging up other transport routes.
Supporting the Supply
But the supply chain isn’t limited to ports alone. In Baltimore, another project is underway to expand the Howard Street Tunnel to add railroad capacity, allowing for easier transport from the port to the Midwest.
After America’s industrial cities have seen declines for decades, and the ripple effects of the pandemic have dealt a blow to some metros, revitalization might be in the air.
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