Georgia will get only a fraction of the federal money state leaders say they need to expand the Port of Savannah under President Barack Obama’s proposed budget, AJC reporters Bob Keefe and Dan Chapman write.
The president’s fiscal 2012 budget includes $600,000 in “pre-construction” money for deepening the harbor — considered by state leaders as Georgia’s biggest and most important economic development project, the reporters write.
State officials say they need $105 million in federal help this year to help with deepening the harbor so it can compete with other Atlantic ports when bigger ships begin passing through the Panama Canal in 2015, Keefe and Chapman report.
The total cost of deepening the harbor, according to the U.S. Army Corps of Engineers, is expected to be about $551 million — a huge amount for the state to bear without more federal aid, the reporters write.
Gov. Nathan Deal said he was disappointed in the lack of more funding for the port, Keefe and Chapman report.
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- Henry Unger, The Biz Beat
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