Ocean Regional Opportunity and Innovation Act of 2023

Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.

Bill 118 hr 3873, also known as the Ocean Regional Opportunity and Innovation Act of 2023, is a piece of legislation introduced in the US Congress. The main goal of this bill is to promote economic development and innovation in coastal regions and communities that rely on the ocean for their livelihoods.

The bill includes provisions for funding research and development projects related to ocean technology, renewable energy, and sustainable fisheries. It also aims to support small businesses and entrepreneurs in these coastal areas by providing grants and loans for start-up ventures.

Additionally, the Ocean Regional Opportunity and Innovation Act of 2023 seeks to improve infrastructure in coastal communities, such as ports and harbors, to facilitate trade and commerce. It also includes measures to protect and preserve the marine environment, including funding for conservation efforts and pollution prevention programs. Overall, this bill is designed to stimulate economic growth and job creation in coastal regions while promoting sustainable practices and environmental stewardship. It has garnered bipartisan support in Congress and is currently under review in committee.