Biden budget pumps $84 million into Virginia port deepening
Federal allocation would keep project on track for 2024 completion Virginia Port Authority will have deepest port on U.S. East Coast. (Photo: VPA)
The deepening and widening of Norfolk Harbor at the Port of Virginia was for the first time included in a federal budget with $83.7 million that will help ensure the project remains on course for completion in 2024.
The project funding from the U.S. Army Corps of Engineers was part of President Joe Biden’s 2022 budget proposal released on Friday. The $350 million project will deepen the port’s channels to 55 feet and widen the channels to allow two-way traffic for ultra-large container ships and would make the Port of Virginia the deepest port on the U.S. East Coast. Initial dredging began in December 2019.
2 DETROIT - The President’s Budget for fiscal year 2022 includes $6.793 billion in discretionary funding for the U.S. Army Corps of Engineers Civil Works program, which is the highest annual budget ever proposed for the Army Corps. This includes approximately $595 million set aside for Detroit District projects, including $480 million for the New Lock at the Soo Locks facility in Sault St. Marie, Mich.
The Civil Works budget funds the operations and maintenance program, including Great Lakes federal shipping channels and navigation structures within the Detroit District’s area of responsibility across Indiana, Michigan, Minnesota, and Wisconsin. This includes funding for the Soo Locks, in Sault Ste. Marie, Mich., which is a critical infrastructure project for the nation.
The Biden-Harris Administration today submitted to Congress the President’s Budget for fiscal year 2022. As the Administration continues to make progress defeating the pandemic and getting our economy back on track, the Budget makes historic investments,
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Each May, we celebrate National Infrastructure Week to advocate for better roads, bridges, rail, waterways, water supply, flood control, aviation, and of course, our Port. Infrastructure needs more than a week of focus, however. It is a never-ending task requiring continuous support from communities, industry, and elected officials.
The Houston Ship Channel is a 52-mile federal waterway. Last year, the U.S. Army Corps of Engineers ranked it the No. 1 busiest channel in the nation. (Photo: Business Wire)
That combination of stakeholders came together over a century ago to create the original “Houston Plan,” combining public and private money to develop our port and launch Houston’s success.
May 11, 2021 By John Shoulberg
Great Lakes Dredge & Dock Corporation, the largest provider of dredging services in the United States, on May 4 reported net income of $8.8 million for the first quarter of 2021, on revenue of $177.6 million. A year ago, Great Lakes reported net income of $34 million on revenue of $217.7 million.
The company reported lower coastal protection and capital dredging revenue, offset by an increase in revenue from maintenance dredging projects. Two of the company’s dredges, the Carolina and Dredge 55, were in drydock for the entire quarter, but are expected to return to work in the second quarter. A year ago, there were no vessels in drydock during the first quarter.