September 27 - Governor Rick Scott of the Florida, USA cabinet has approved USD150 million in bond proceeds that will be used to finance port development projects in the state, as part of the Seaport Investment Program.
Jaxport, located in Jacksonville, will receive USD27.5 million of the fund including USD14.8 million for its Blount Island Terminal development that will be used for breakbulk, auto, rail, container and bulk service improvements.
"This investment clearly sends the message once again: Florida's leaders understand the value of building port infrastructure today, and the returns that will come in the form of jobs and economic opportunity," says Jaxport ceo Brian Taylor.
The Port of Tampa will receive USD23 million in state funding for investment in capital projects: USD7.5 million will be used to complete the Port Redwing Project; USD9.2 million will be allocated for the multi-phase development of Hooker's Point; a further USD6 million has been set aside for the Eastport storage yard, road relocation and multi-berth development, to boost the gateways general and bulk cargo operations.
The majority of the USD150 million allocation will be used to prepare Florida's ports for the completion of the Panama Canal expansion project, scheduled to be finished in 2014. The project will allow larger vessels to move through the canal. Ports across the Gulf and the Atlantic seaboard have been upgrading their facilities to accommodate additional business opportunities generated by the canal's expansion.
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