09.04.2022

Moran Iron Works awarded $500,000 Maritime Shipyard Grant

ONAWAY — The U.S. Department of Transportation's Maritime Administration (MARAD) recently awarded $19.6 million to 24 shipyards in 19 states through the Small Shipyard Grant Program, with Moran Iron Works of Onaway solely representing Michigan.

The half-million dollar grant awarded to Moran Iron Works will help modernize, increase productivity and expand local employment opportunities while competing in the global marketplace. Specifically, the grant will support the welding fabricator in the purchase of a CNC Fabricating System and Drill Line, enhancing automation of complex fabrications and drastically reducing production time.

The manufacturer received support from state government officials in obtaining the grant. Senator Gary Peters, Senator Debbie Stabinow, and U.S. Congressman Jack Bergman all petitioned for the Great Lakes State to receive the maritime federal dollars.

“Moran Iron Works is a fundamental asset for our region providing nearly 100 jobs for the hardworking men and women who call Northern Michigan home,” said Representative Jack Bergman.

“This federal investment at (Moran Iron Works) through the Small Shipyards Grant Program will help replace outdated equipment and help keep jobs right here in Michigan," he added. "Defense of our nation relies heavily on the success of our shipyards, ports and waterways. I‘m proud to continue to support these critical investments on the federal level.”

According to a press release from the company, the new equipment along with current facilities gives Moran Iron Works the ability to compete on a global scale. Moran Iron Works owns a deep water port located on the shore of Lake Huron in Rogers City. Centrally located in the Great Lakes, the port provides space and equipment to facilitate vessel construction and repair services in addition to other various shipping activities for a range of ship sizes and types.

Founder and CEO Tom Moran said, “The MARAD Award is a needed investment into one of the most important business sectors we have. Developing our marine capability is not only paramount to continuing employment for our team but critical to keeping the United States up to date in that manufacturing sector.

“It is common for a multi-million-dollar marine vessel to hover just a few percentage points between profit or loss and few business models can take on challenges like that and have profits left for improvement," he said. "We are proud to carry on the tradition of shipbuilding here in America.”

Lee Fayssoux, sales and marketing manager for Moran Iron Works, added that “This is very exciting for (Moran Iron Works)! Our marine division has grown into about 20 percent of our business model over the last three years and continues to grow annually. The addition of this new equipment will lead to more utilization of our port as we continue to launch vessels and load barges with quality, Michigan-made products.”