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Jaxport awarded an additional USD 35.3 million in funding for harbor deepening

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Jaxport awarded an additional USD 35.3 million in funding for harbor deepening

September 23, 2019 - 06:39
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The Florida Department of Transportation (FDOT) has awarded Jaxport an additional $35.3 million in funding for the Jacksonville Harbor Deepening project.

Loading of paper rolls at Port of Jacksonville, Florida, the host port of TS 24 in 2021 Picture Jaxport

To date, the state of Florida has contributed nearly $71.5 million toward harbor deepening. That funding, combined with significant financial support from the federal government and a private tenant, helps keep the project two years ahead of schedule with anticipated completion in 2023, based on continued funding from all partners.

Deepening the Jacksonville shipping channel to 47 ft. will allow Jaxport to accommodate more cargo aboard the larger ships currently calling Jacksonville from counties in Asia—including Japan, South Korea, China, Vietnam, Thailand and more. Jaxport’s Asian container trade is up 9% so far in Fiscal year 2019, which began on Oct. 1, 2018.

“We are extremely grateful that FDOT continues to invest in Jaxport, furthering our ability to positively impact the economy of our region and state,” said CEO Eric Green. “The support we have from the state of Florida—combined with support at the federal and local levels and a public-private partnership—all ensures Jaxport will continue to thrive as a global gateway into the Southeast U.S., attracting more jobs and economic opportunity to Northeast Florida.”