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 Economic Development News 
Wednesday, February 11 2015
Georgia Senate OKs port deepening bill

Savannah, GA -- The Georgia Senate unanimously passed legislation Tuesday that dots the "i's" and crosses the "t's" on the $706 million Savannah Harbor deepening project.

The bill, which now moves to the state House of Representatives, ensures that the state would indemnify the federal government for any liability that arises from the project.

The legislation is legally necessary for the state to receive loans and grants covering the $440 million federal share of the work.

Construction on the project began late last month, and President Barack Obama requested $42 million early this month from Congress, the first significant installment of federal funding to deepen the harbor from 42 feet to 47 feet.

The additional depth will let the Port of Savannah accommodate the next generation of containerized cargo ships that will be coming to call after the widening of the Panama Canal, a project due to be completed next year.

The Savannah Harbor work is due to be finished in 2017.

Photo source: http://m.bizjournals.com/atlanta/blog/capitol_vision/2015/02/georgia-senate-oks-port-deepeningbill.html?r=full

Posted by: Nicole@ExpansionSolutionsMagazine.com AT 04:07 pm   |  Permalink   |  Email

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