USA: Connecticut Ports Offer Economic Opportunity
- Business & Finance
Legislation (HB 5289) spearheaded by Speaker of the House Brendan Sharkey (D-Hamden) that creates a state Port Authority to oversee and promote Connecticut’s three deep water seaports was passed by the House of Representatives yesterday.
“Our ports are underutilized commercial hubs that represent an untapped resource for developing new business markets and spurring economic growth in our state,” Sharkey said. “Connecticut is positioned to capitalize on our unique location, and we have the real potential to becoming a shipping alternative to New York and Boston by focusing on niche markets.”
Similar to the state’s Connecticut Airport Authority, the new quasi-public Port Authority, which will be fully operational October 1, 2015, will perform a number of functions regarding coordination and development of the state’s coastal ports in Bridgeport, New Haven and New London.
This would include marketing ports to domestic and foreign shippers, seeking private investments, connecting to rail service, and pursuing state and federal funding for dredging and other infrastructure improvements to increase shipping and cargo capacity.
Press Release, May 7, 2014