JAXPORT deepening project finished ahead of schedule; US Army Corps awards $35 million refund
During this week’s March JAXPORT Board of Directors meeting, the US Army Corps of Engineers Jacksonville District presented JAXPORT with a $35 million refund for unused prepayments from the recently completed Jacksonville Harbor Deepening project.
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The 47-foot deepening project was completed in May 2022 ahead of schedule and under budget.
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JAXPORT is actively working with the City of Jacksonville and the state of Florida, which both contributed funding toward the project, to determine their share of the refund amount as outlined in the project agreements.
“It is clearly unprecedented for a project of this magnitude to come in under budget,” JAXPORT Vice Chair Daniel Bean said during the meeting. “The ability to provide a substantial refund to our partners at the City and State is a significant milestone that should be commended. Well done to everyone involved.”
Related Story: JAXPORT secures funding for its power line raising project
Completed in May 2022, the project deepened 11 miles of the federal shipping channel to 47 feet. It’s previous depth was 40 feet. This is allowing larger ships to call JAXPORT and existing ships calling Jacksonville to carry more cargo on board.
A total of $240 million was contributed upfront toward the project’s construction. It’s original estimates cost was $484 million.
The $35 million refund results from project savings due to dredging provider bids coming in lower than forecasted. All three phases of construction were seamlessly completed, allowing the project to finish ahead of schedule.
The federal government funded half of the project’s total cost and is receiving a separate refund from the $35 million presented to JAXPORT this week.
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According to a JAXPORT news release, “JAXPORT is Florida’s largest container port and one of the nation’s top vehicle-handling ports. A 47-foot shipping channel creates or protects 15,000 jobs supported by Asian trade in Jacksonville.”
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