Governor McDonnell Announces Craney Island Eastward Expansion Receives VDEQ Permit Approval
– Project Construction Will Generate Thousands of Jobs for the Commonwealth –
RICHMOND – Governor Bob McDonnell today announced that the Virginia Port Authority and the U.S. Army Corps of Engineers have received permit approval yesterday from the Virginia Department of Environmental Quality for the Craney Island Eastward Expansion. The permit represents an important milestone for the Craney Island Eastward Expansion development. The VDEQ Virginia Water Protection permit authorizes construction of the expansion and the mitigation plan components.
Speaking about the permit approval, Governor McDonnell commented, "Today's announcement is critical to the success and completion of Craney Island and future growth for the Port of Virginia. The economic impact of this permit approval goes beyond Craney Island. This project will generate thousands of jobs and millions more in revenue for the Hampton Roads area and to the state."
With the Panama Canal Expansion set to open in 2014, ports up and down the East Coast are seeking to expand their facilities in order to capitalize on the growing demand for East Coast cargo capacity. Receipt of the VDEQ permit makes The Port of Virginia the only East Coast port with substantial permitted expansion plans. With naturally deep shipping channels and high–quality port infrastructure, The Port of Virginia is uniquely positioned to accommodate the mega–containerships that will use the expanded Panama Canal. The increased cargo volumes will result in job creation and state–wide economic investment.
The Craney Island Eastward Expansion will provide long–term dredged material placement capacity and supports The Port of Virginia's long–term ability to handle increased cargo. The project is essential to ensure Port growth and the expansion of Virginia's supply chain industries. Coupled with transportation initiatives like the Heartland Corridor, the Crescent Corridor, and the National Gateway, the project will ensure continued development in intermodal sectors―spurring regional economic growth, creating jobs, and supporting the import and export of goods for the benefit of all Virginians.
Presently, the Port of Virginia generates 343,000 jobs in the Commonwealth, with wages of $13.5 billion, $41.1 billion in revenue, and $1.2 billion in taxes. Construction of the Craney Island Eastward Expansion alone will generate 1,176 jobs with annual wages of $36 million. Over time, the project will generate over 54,000 jobs with wages of $1.7 billion and state and local tax revenues of $155 million. The project will generate $5 billion in economic impacts for the Commonwealth annually.
About the Craney Island Expansion
The Virginia Port Authority (VPA) and the U.S. Army Corps of Engineers are partnering to construct the Craney Island Eastward Expansion. A project of dual purpose, the Craney Island Eastward Expansion will effectively extend the life of Craney Island as a dredged material placement area, as well as provide land for the construction of a new marine terminal. The Craney Island Eastward Expansion will generate jobs and grow the economic benefits accruing to the Commonwealth from maritime commerce. To learn more visit: http://craneyisland.info.
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