The Biden administration announced on Wednesday that it will give $14 billion to the Army Corps of Engineers to fund 500 projects, focusing on helping supply chain issues and addressing climate change.
President Joe Biden's $1 trillion infrastructure deal allows for the spending, and shows how the projects can improve supply chain backlogs.
According to a White House fact sheet, there are three specific projects that will try to reduce supply chain issues by making it easier to transport goods.
U.S. ports have struggled to manage container ships coming in and moving containers onto trucks, resulting in shipping delays and affecting prices of goods.
One of the projects for the Army Corps of Engineers will be to replace the locks on the Ohio River so water levels are high enough for bigger cargo ships. That project will cost $858 million.
Another project will be a new lock in Michigan that is important for shipping iron ore, and costs $470 million. Other investments include projects at the Port of Long Beach in California and Norfolk Harbor in Virginia to help with more shipping.
Additionally, the Army Corps of Engineers will spend $1.1 billion to preserve the Everglades in Florida by capturing and storing surface water runoff. There is also a project to reduce coastal flood risks for $645 million and a project to reduce inland flood risks that will cost $1.7 billion.
Related
Related
