NC Ports would get equipment and infrastructure funds under proposed House and Senate legislation

Growing business and forecasts of increased demand at North Carolina's Ports have created a significant window of opportunity for development ' and the Ports' delegation in the General Assembly has responded with aggressive action. Legislation supporting a substantial funding request for the State Ports Authority has been filed jointly in the State Senate and House.

N.C. Sen. Scott Thomas (D-Carteret, Craven, Pamlico), with co-sponsor Sen. Julia Boseman (D-New Hanover), filed Senate Bill 1101, while on the House side Rep. Danny McComas (R-New Hanover),

with co sponsors Representative Jean Preston (R-Carteret) and William Wainwright (D-Craven, Jones, Lenoir), filed House Bill 1171. The companion bills request $16.5 million over the coming biennium for capital improvements at the Ports of Morehead City and Wilmington: $8 million in fiscal year 2005-06 and $8.5 million in fiscal year 2006-07.

The improvements funded by the appropriation are split evenly between the two ports. The Port of Morehead City would receive $1.5 million to design a new 250,000 square foot warehouse and open storage area, along with $7 million for design and permitting of development of a port facility on nearby Radio Island. The Port of Wilmington would receive $8 million toward purchase of four new container cranes as part of a 10-year container terminal expansion program.

"We are looking to capture a window of opportunity that the Ports Authority has now, to put infrastructure in place at the Ports to accommodate the booming market demand for port capacity and services expected over the next five years," Senator Thomas said.

"Our Ports are enjoying remarkable growth, with business up 24.5% in fiscal year 2004 and up 25% in fiscal year 2005 so far," said Representative McComas. "We are working closely with the Ports Authority Board of Directors and CEO to be ready to accommodate both short-term and long-term market demand, by investing in the equipment and infrastructure necessary to handle cargo growth over the next five to 10 years."

"We are profoundly grateful to Senator Thomas and Representative McComas for their foresight and leadership of this historic initiative on behalf of North Carolina's Ports," said Ports Authority Board Chairman Carl J. Stewart Jr. "The return on this investment will be measured by increases in the Ports' economic benefits to the entire State in jobs and tax revenues."

Current port activities contribute statewide to over 48,000 jobs and nearly $30 million in annual tax revenues. Conservative estimates project that with the capital improvements and expected growth by 2013, these numbers could climb to 53,300 jobs and $53.1 million each year in tax revenues.