This EDA investment supports the renovation and expansion of the 500 sails boatyard in the commonwealth of northern mariana islands (CNMI)

Active Project Grant Awarded

Award ID
077907817
Recipient
Awarding agency
Obligated
$1,625,064

Award facts

Assistance listing
11.300 Investments for Public Works and Economic Development Facilities
Completion date 88% complete
Place of performance
Saipan, CNMI

Award details come from USAspending.gov.

Description

As the agency reported it.

The project will transform the building from a small teaching boatyard to a modern maritime training facility (MTC). The northern mariana islands maritime training center will provide formal, hands-on training to a growing workforce for CNMI's emerging maritime industry. The maritime industry will bring diversity to the CNMI's economy that is currently dominated by one industry, tourism. The MTC will help the CNMI communities accelerate economic recovery from the covid-19 pandemic and build an economy that will be resilient to future economic shocks, which will help boost the maritime workforce throughout the region.

Quick answers

Who received award 077907817?

077907817 was awarded to 500 Sails, Inc. by Economic Development Administration (Department of Commerce) on June 14, 2022.

How much is award 077907817 worth?

$1,625,064 has been obligated on 077907817.

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