With the completed expansion of the Panama Canal this year, trading ports and the cities and states that host them took notice. The new, massive cargo ships soon to pass through the canal to stops around the world are far too large for Boston’s port, the Conley Terminal, and the current depth of the harbor.
Thanks to the combined effort of local, state, and federal stakeholders, $400 million will be spent to deepen, expand, and upgrade the harbor to keep Boston at the cutting edge of global trade. I was honored to attend the kickoff ceremony for the dredging of the harbor, where attendees heard remarks from U.S. Senators Warren and Markey, Governor Baker and MassPort CEO Tom Glynn, among others.
The new port upgrade is a statement of intent that Massachusetts plans on being relevant in every trade conversation in the future. We are currently host to 12 of the top 15 shipping companies in the world, and for every dollar spent to expand the harbor, we can expect nine dollars of economic activity in return, totaling more than $2 billion in impact.
As House Chairperson of the Joint Committee on Export Development, I am heartened to see this project move forward so that businesses and entrepreneurs of all shapes and sizes can continue to make use of our state’s top notch resources and infrastructure to keep Massachusetts moving.