Thursday, November 04, 2010

 

West Tennessee River Port Now Fully Funded

As I mentioned in my last post, the proposed river port in Lake County has received the final monies needed to get the project underway.

Here is an article carried by the state gazette newspaper and the associated press.

Associated Press - November 3, 2010 1:35 PM ET

DYERSBURG, Tenn. (AP) - A new port in Lake County is now fully funded. Construction can begin as soon as the port authority receives the guidelines for using the $13 million in federal grant money it received.

Northwest Tennessee Port Authority Chairman Jimmy Williamson made the announcement on Monday after the authority secured the final $3 million for the Port of Cates Landing. The State Gazette reports the money will come from state matching funds. Gov. Phil Bredesen had already earmarked $4 million for the project.

The port on the Mississippi River is projected to cost $20 million total.

Williamson thinks the port should be completed within 18 months once construction starts.

An economic study from Middle Tennessee State University found the port should bring 1,700 jobs to the region and retain 2,293 related jobs.

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