Massport Confirms $35 Million Funding for Boston Dredging
- Business & Finance
The Massachusetts Port Authority confirmed last week that $35 million has been secured to help fund the ongoing Boston Harbor Dredging Project.
The project is approximately 30 percent complete, and this funding will enable the project to continue on schedule.
The scheme is a $350 million partnership between the U.S. Army Corps of Engineers, the Commonwealth of Massachusetts, and Massport.
The maintenance dredging of the inner harbor was completed in December of 2017. The deepening of the main ship channels began in July 2018 to accommodate the large container vessels calling today and in the future.
Senator Edward J. Markey commented: “This strong federal investment in this dredging project will help further upgrade the harbor in order to accommodate more and larger ships, to bring in more jobs, more investment, and more economic prosperity.”
The multi-phase dredging project supports continued growth at Conley Container Terminal, which has achieved four consecutive record-breaking years for volume. The Port and Terminal generate $4.6 billion in economic activity, support 7,000 direct jobs and service exports and imports for 1,600 businesses across Massachusetts and New England.