Gov. Rick Scott & state Cabinet approve federal funding as part of the Seaport Investment Program
Florida Governor Rick Scott and the state Cabinet have approved the allocation of US$150 million in bond proceeds to finance port projects across Florida through the Seaport Investment Program.
The funding, to be issued in the current fiscal year, will help a total of 16 port related projects identified by the Florida Department of Transportation (FDOT).
“This $150 million investment in Florida ports will strengthen Florida’s role as a hub for global commerce,” said Governor Scott
“Florida’s ports support international trade and domestic manufacturing, and create jobs for Florida families.”
“With this investment, we will continue to position Florida as a leader in global trade and commerce.”
The majority of funds will be used to prepare the state’s ports for the expansion of the Panama Canal, set to be completed in 2014, allowing vessels with a capacity of 12,000 TEU to safely navigate the waterway.
Port Everglades will receive $34.5 million to increase the length of the Southport Turning Notch Extension allowing room for five new berths. Elsewhere, PortMiami will be issued $25 million in bond funding to help complete the final phase of the port’s Deep Dredge project.
JaxPort will be granted $15 million to upgrade its wharf and terminal facilities, while Port Manatee will receive $6.4 million to help realise its berth rehab and reconstruction project. Finally, Port Panama City has been granted $2.2 million for its container terminal expansion project.
All identified projects have been approved by Governor Scott and the 2013 Legislature through the budget approval process.