USA: Boston Harbor to Receive USD 310 M for Dredging
- Business & Finance
The inclusion of the $310 million Boston Harbor dredging project in the Water Resources Reform and Development Act (WRRDA) received support from the Massachusetts Senators Edward J. Markey, Elizabeth Warren, Congressmen Michael Capuano and Stephen Lynch.
The funding for the Boston Harbor Federal Deep Draft Navigation Improvement Project to deepen the Harbor’s main navigation channels will come in WRRDA reauthorization, legislation that will authorize the dredging project and other water projects throughout the country. According to Massport, the Boston Harbor dredging scheme will help double the number of containers on ships coming into Boston.
The Army Corps projects that for every dollar spent on construction, there will be nearly nine dollars returned in increased economic activity – resulting in a $2.7 billion economic benefit for the entire New England region. In November 2013, the entire Massachusetts delegation wrote to WRRDA committee leadership strongly supporting inclusion of the project in final legislation.
“Boston Harbor is an economic anchor for the entire New England region, and this investment will help ensure its future as a port of world-class distinction,” said Senator Markey. “Improving the harbor to accommodate more and larger ships will bring more jobs, more investment and more economic activity to the harbor.”
Senator Warren said: “This kind of federal investment helps strengthen our economy in Boston and throughout the Commonwealth.”
Rep. Capuano added: “The project brings an economic benefit that will be felt throughout the region.”
May 14, 2014