Funding will be used to continue Jacksonville Harbor Deepening project
The Jacksonville Port Authority (JAXPORT) today was awarded $32.389 million in federal funding to continue its deep draft navigation project. This comes in addition to the $17.5 million that JAXPORT received for the project last year, representing a substantial federal investment in growing commerce and trade in Northeast Florida.
Congressman Rutherford has fought hard to ensure JAXPORT receives federal support for this deep dredge project, which will enable mega-sized container vessels to enter the port, spurring economic growth and creating jobs in Northeast Florida.
Following today’s announcement, Congressman Rutherford released the following statement:
“Continued federal investment into the expansion at JAXPORT is a huge win for our region,” said Rutherford. “As a strategically important asset to our national security, JAXPORT has proven to be a reliable and prosperous port of entry for commerce and trade on the Eastern Seaboard. This important deep dredge project will enhance the economic growth and international competitiveness of JAXPORT, and this increased investment marks a significant step toward furthering JAXPORT’s substantial contributions to Northeast Florida and to our nation.”
The 47-foot deepening improvement project, authorized by the Water Resources Reform and Development Act of 2014, is expected to create 15,000 new jobs, with an estimated $24 return for every $1.00 invested.
JAXPORT is a significant economic engine for Northeast Florida and the nation, supporting $26.9 billion in total economic output, 132,000 jobs and $727 million in state and local taxes, of which $169 million is directly generated by cargo operations.
To view the letter Congressman Rutherford sent to OMB Director Mick Mulvaney and Acting Assistant Secretary of the Army Ryan Fisher requesting continued funding for JAXPORT, click here.