Gulf Coast Port Expansion in High Gear

摘要

Availability of land coupled with Panama Canal project pushing growth. Communities and regions that are in proximity to ports along the Gulf Coast have an economic development advantage over their competitors in the quest for manufacturing expansion projects. Many Gulf ports are forging ahead with expansion plans in the hopes of attracting more inbound and outbound cargo. They are also preparing for 2014, the anticipated date for the opening of the expanded Panama Canal. The $5.25 billion project will double the waterway's capacity and allow more traffic and wider ships to transit, and Gulf ports expect to receive more business. For example, Port Manatee signed a memorandum of understanding with the Panama Canal last year "to maximize the advantage of its proximity as the closest U.S. deepwater seaport" to the canal.