Capital Funding Announced for Cairo River Port Terminal
- Business & Finance
Illinois State Senator, Dale Fowler, said in its latest announcement that a total of $1 million in capital funding has been released for the proposed river port terminal in the city of Cairo in Southern Illinois.
“This funding is a commitment to a project that is critical to the people of Cairo and surrounding communities, demonstrating that the state is invested in working to revitalize the area,” said Senator Fowler (R-Harrisburg).
Appropriated as part of the current FY 2019 state budget, the $1 million will be used to fund permitting, engineering, and design costs for the port terminal.
“Southern Illinois has such potential that has gone unrecognized and underutilized for too long,” added Fowler. “This port is a path forward for recovery, capitalizing on Cairo’s location and creating the potential for future economic growth.”
According to the official Fowler’s announcement, “located at the confluence of the Mississippi and Ohio rivers, the proposed location for the river port terminal is ideally situated. The port will also create a unique land-accessible transportation hub as the terminal would be situated next to the Canadian National Railroad running from Chicago to New Orleans and near three major Illinois interstates.”
According to the Alexander-Cairo Port District, over a dozen companies have expressed interest in the port project. Having received these funds, the project will move forward with all capital funding to be expended by June 30, 2019 and permitting expected to be completed within 24 months.