The Port of Jacksonville’s channel-deepening project will cost $733 million, according to a U.S. Army Corps of Engineers analysis.
The federal government would pay about $349 million of that, and the remaining $383 million would be paid by local sources. The project will deepen the Florida port’s channel to 47 feet in order to handle larger cargo ships.
The analysis was part of the corps’ draft report, which studied the impact of channel deepening and recommended an optimum depth. It considered the costs and benefits of dredging from the current depth of 40 feet in 1-foot increments up to 50 feet.
The analysis found that the greatest benefits came from dredging up to the 45 feet, but the Port of Jacksonville asked to dredge to 47 feet in order to attract the largest container cargo ships. The cost for the extra two feet would be paid by local entities alone.