; and (B) exempt from taxation under section 501(a) of the Internal Revenue Code of 1986. (8) Secretary The term Secretary means the Secretary of Commerce. (9) Working waterfront area The term working waterfront area means land that is used for, or that supports, the commercial fishing industry, the mariculture industry, the for-hire recreational fishing industry, or the boatbuilding industry. (b) Grant program authorized (1) In general The Secretary, acting through the Economic Development Administration of the Department of Commerce, shall award grants, on a competitive basis, to eligible entities to carry out eligible projects that support the commercial fishing industry, the mariculture industry, the for-hire recreational fishing industry, or the boatbuilding industry in coastal States. (2) Application An eligible entity desiring a grant under this section shall submit an application to the Secretary at such time, in such manner, and containing such information as the Secretary may reasonably require. (3) Grant selection considerations In selecting eligible entities to receive grants under this section, the Secretary shall give substantial weight to— (A) the economic significance of the eligible project to the commercial fishing industry, the mariculture industry, the for-hire recreational fishing industry, or the boatbuilding industry in the immediate vicinity and in the coastal State in which the eligible project is located; (B) whether other adequate waterfront access alternatives exist for the commercial fishing industry within the community in which the eligible entity seeks to use grant funding; (C) the utility of the eligible project for use in the commercial fishing industry, the mariculture industry, the for-hire recreational fishing industry, or the boatbuilding industry, with respect to the natural characteristics and developed infrastructure of the relevant property; (D) whether the applicant has a business plan for the area in which the project will be located