Report recommends five-year investment plan to help Port Manatee keep pace with projected cargo volume (6/20/2016)
6/20/2024Cargo volume through Florida's Port Manatee will more than double during the next 10 years, according to a report the Manatee County Port Authority issued last week.
Accordingly, the 2016 Port Manatee Master Plan Update recommends a five-year, $126 million capital improvement and maintenance plan, supported by numerous state and federal funding sources.
Detailing multiple growth scenarios, the report projects cargo tonnage moving through Port Manatee to increase at an average pace of 8.3 percent per year during the next 10 years. "Dynamic growth" of containerized cargo imports — up 40 percent year-over-year for the fiscal year ended March 31 — is expected to continue, particularly if the southwestern Florida port attracts additional container carrier service, authority officials said in a press release.
Issued June 16, the plan update was developed by a team of consultants led by AECOM Technical Services Inc.
Source: Progressive Railroading Daily News