This commentary appeared in the print edition of the Jan. 6, 2020, Journal of Commerce Annual Review and Outlook.
In 2020, our single biggest challenge is also our single biggest opportunity: the deepening of our federal shipping channel to a depth of 47 feet, a project currently underway to provide a harbor deep enough to accommodate larger ships calling the US East Coast.
A harbor deepening process anywhere in the country from start to finish can be painstakingly slow due to required approvals, so patience is a virtue for a port director who is eager to take advantage of the economic opportunity such a project represents for customers, the port, and our community.
We have made significant progress to date. With continued funding, Jacksonville’s harbor deepening is anticipated to be finished in 2023, two years ahead of its original schedule.
This is a period of transition, but it’s certainly not a period of waiting. We are using this time to invest in and prepare our infrastructure.
To keep the harbor deepening ahead of schedule, we employed a creative financial solution by engaging a private partner, SSA Marine. Together, along with support from our federal, state, and local partners, we recently broke ground on a $238.7 million international container terminal that will be completed around the same time as our deepening project.
The SSA agreement includes private funds that will be used toward the deepening project and landside enhancements to the facility.
This is a private company investing more than $100 million in public assets. It’s a dynamic public-private partnership that will ultimately benefit our customers and port community through increased efficiency and capacity. It speaks to the value of the opportunity that exists in Jacksonville and the advantages of our port, while sending a clear message to the industry that Jacksonville remains responsive to the needs of our customers.