1st round of DOT aviation funding

WASHINGTON - The U.S. Department of Transportation (DOT) announced Sept. 13 that it will offer $482.3M in funding to 313 businesses, under a new jobs-saving program created as part of the Biden administration’s American Rescue Plan (ARP).  The funding announced will go to companies based in 37 states and Puerto Rico, helping protect as many as 22,500 jobs nationwide. (None of those businesses are in Mississippi; only one in Louisiana and four in Alabama.) “(A)viation industry workers have helped keep this economy moving” over the past 18 months, said U.S. Transportation Secretary Pete Buttigieg. This funding will “save jobs and support the workers who have supported us throughout the pandemic.” Before the pandemic, the aerospace industry was estimated to employ about 2.2M workers, including 1.2M who worked in various parts of the supply chain, according to industry sources.  The heavy drop in air travel had led to reduced demand for parts, repairs, modifications, and other services. Over 100,000 jobs in the industry was lost since the start of the pandemic. Estimates indicate hundreds of thousands more are at risk. As demand for aviation rebounds, businesses are crucial to the safety and functioning of the industry and U.S. economy. The ARP awards reflect two key DOT priorities – economic strength and equity. Many of the awardees are small businesses. Of the 313 companies receiving funds, 188 (60%) had fewer than 100 employees by the end of 2020; and 252 (80%) had fewer than 250 employees. (Source: DOT 09/13/21) U.S. DOT Announces First Round of Recipients of Aviation Manufacturing Jobs Protection Program Funding | US Department of Transportation