South Carolina Lawyers
The South Carolina economy may see a boom in coming years because of the Port of Charleston.
President Obama announced Wednesday that the Port of Charleston was one of seven infrastructure projects that would be expedited. The goal of these projects is to modernize and expand major ports in the United States.
President Obama hopes to have all the federal reviews for the Port of Charleston completed by September of 2015. The project completion date is 2020, which is four years earlier than originally planned.
The Port will be deepened from 45 feet to 50 feet. The deepening of the Port will allow for easier access for larger container ships. These larger container ships will be able to reach Southeast ports via the Panama Canal by September of 2015. In turn, this will generate more business to the Port and improve the economy in South Carolina.
Many South Carolina politician are praising President Obama for the expediting the process.
Governor Nikki Haley states, “This is a huge win for Charleston and all of South Carolina. Back in February, I stressed to the president how important deepening Charleston’s port was and frustrating the Army Corps’ timetable was, and I’m thrilled to see the administration has sped up the project.”
The White House also announced the formation and creation of multi-agency Navigation Task Force. According to the Post and Courier based out of Charleston, the Task Force “will develop a federal strategy and coordinated decision-making principles that focus on the economic return of investments into coastal ports and related infrastructures to support the movement of commerce throughout the nation.”
Senator Lindsay Graham, R-SC hopes wants the Navigation Task Force to rank the ports for funding. Currently, South Carolina has set aside $300 million in funding for the Port of Charleston project. This money will serve as a backup in the event that the federal government does not provide a federal share for the project.
Along with the Port of Charleston, President Obama announced deepening projects for the Port of Savannah, Jacksonville, Miami, New York and New Jersey would be expedited.