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JAXPORT has secured complete funding for the project to raise the Fulton Cut Crossing powerlines over the St. Johns River adjacent to JAXPORT’s Blount Island Marine Terminal.
On Tuesday night, the Jacksonville City Council voted to award JAXPORT a $10 million grant toward the project. The City will also provide a $12.5 million loan and a $5 million bridge loan, which will be repaid by JAXPORT. This funding is in addition to a $22.5 million grant awarded to JAXPORT by the Florida Department of Transportation (FDOT) in December 2022.
JAXPORT CEO Eric Green’s response to securing full funding for the project:
“We are grateful to our funding partners—The State of Florida and the City of Jacksonville—for their continued support of port growth and the jobs, economic impact, and supply chain security our modern deepwater seaport provides.
With the funding now in place, we look forward to finalizing an interlocal agreement with JEA detailing the project’s next steps, including the timeline.
We thank Florida Governor Ron DeSantis, FDOT Secretary Jared Perdue, the Jacksonville City Council, and Mayor Lenny Curry’s Administration for working with us on this important project to maximize the return on investment of harbor deepening and create more jobs and economic prosperity for the citizens of our city and state. This collaboration shows the world that Jacksonville is open for business and well-positioned for the future.”
The project will provide an operational air draft clearance of 205 feet, an increase from the current clearance of 175 feet. The increased air draft allows more ships to utilize JAXPORT’s newly deepened 47-foot harbor.
Harbor deepening and raising the powerlines creates or protects 15,000 jobs supported by the growth of Asian trade in Jacksonville.
JAXPORT is Florida’s largest container port and one of the nation’s top vehicle-handling ports. Cargo activity through Jacksonville’s seaport supports 138,000 jobs and $31 billion in annual economic impact for the region and state.
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