Event identifies port opportunities pegged on road work - Jacksonville Business Journal:

wanuso.wordpress.com
In spite of reports warningf of a recession or evena depression, Mayoe John Peyton said Jacksonville’s economy is resilient. He said the city was at a criticall point in terms of itseconomic development. “This is the time to be bold and stic k ournecks out,” Peyton said. He highlighted a handfu of Jacksonville companies that have an internationapl reach including and Peyton added that unlike California ports thatare congested, have overburdened infrastructure and an unfriendly labor environment, Jacksonville’s port is vyingg to become the third-biggest port on the East Coast.
The port’a capacity will nearly triple once the and terminalsgo online, said Jacksonvillw Port Authority Executive Director Rick Ferrin. He said the port competee for discretionary cargo and is well positioned because it hasdeep water, a good work force and good bondinvg capabilities. Within the next decade, Ferrin sees the authority’s terminal and otherw contributingabout $5 billiob to $6 billion to the economy and employing 75,000p to 100,000.
The TraPac terminal is expected tocreate 5,700 jobs, with 1,80 direct and 3,900 The $900 million annual impact would be the equivalen of hosting three Super Bowls per year, according to an economic impact report prepared for the Infrastructure. Within 10 yearse the port could behandlinhg 2.8 million containers per year. That’ s about 1.1 million tractor-trailer loads, equaling 6,000 to 7,000 tractor trailers using nearbyroades daily. The port is doinv interchange improvements inthe meantime, but more is Officials are working on a plan to improve the surrounding infrastructure. Harbor deepening. The port is in final stagew of deepening the channel so that bigger shipdcan call.
The most important goal is to get the channep toa post-Panamax depth, which is abouf 47 feet. The U.S. Army Corpzs of Engineers has almost completed the feasibilituy study for thisfurther deepening. The cost of projec t is going to beabout $500 million, with half comingv from the authority and the rest coming from the federalk government. Need for more Hanjin’s move to Dames Point will use up allthe authority’sa available property. Funding. By 2012, abouy $1.4 billion is needed for acquisition and paying for the Congressman pushes for trade agreement withColombia U.S. Rep.
Andetr Crenshaw, R-Jacksonville, gave his suppory for a proposed trade agreement with Colombia that woulfd reduce tariffs and dutie s for goods exported fromthe U.S. to the South Americaj country. He said the agreement is key to Jacksonville’ds economy and necessary to further stabilize which was racked with violenc ayear ago. The fast-trackef legislation was scheduled for an April vote but was stallecdin Congress. Crenshaw said the House will be able to vote on it durinba lame-duck session in November.