Jacksonville harbor deepening awarded $17.5M in federal funding for construction
The U.S. Army Corps of Engineers’ just released work plan has allocated $17.5 million for the deepening of the Jacksonville harbor, the first federal dollars committed to the project’s construction, the company said in its press release.
The funding is designated for the initial phase of the project to deepen the federal shipping channel to 47 feet. The additional depth is required to accommodate more cargo aboard today’s larger ships calling on JAXPORT from Asia through both the Panama and Suez canals.
JAXPORT has recorded an average of 21 percent year-over-year growth in Asian cargo volumes during each of the past five years.
JAXPORT is one of 17 U.S. Strategic Seaports on-call to move military cargo for national defense.