Business Matters January 2018 | Page 14

the power of collaboration State of the Port Recap By Charles W. Zahn, Jr. Chairman, Port Corpus Christi Commission W e have an important role in today’s economy - our suc- cess and progress is a catalyst for this great nation of ours. When the world is at odds with itself, there continues to be a sharing of goods between ports that binds us together. We take great pride in our role of internationalism. The majority of crude oil leaving our port is destined for for- eign markets, and earlier this year, Port Corpus Christi be- came the #1 us crude oil exporter in the nation. We are the 4th largest US port in total tonnage, and we create $150 billion in economic activity for the United States. There are $50 billion in privately funded industrial projects underway in and around the Corpus Christi Ship Channel. The Coastal Bend is becoming increasingly known worldwide as a region where businesses come to thrive. The projects announced in 2017 alone are estimated to produce over 600 permanent jobs, 8,000 jobs during peak construction, over $240 million of new earnings, and over $100 million in new taxes. This year, we faced a challenge unlike any we’ve experienced before. When Hurricane Harvey struck, the Corpus Christi Ship Channel was closed for a record six days, the longest closure in the channel’s 90 year history. Thanks to the around-the-clock work our Emergency Operations Command, the captain of the port re-opened the channel on august 31st with re- strictions. We are currently in the process of restoring full maritime operations. For the first time in over three de- cades we’re building new docks to increase our capacity to load and unload cargo. The recently completed Nueces River Rail Yard increased our rail capacity 4x what it was. Construction of the new Harbor Bridge is underway follow- ing the successful implementation of the Hillcrest buyout program. The new, 205’ bridge will be the longest cable-stayed suspension bridge in the western hemisphere, and will last us a century. The largest project the port has on the horizon is the Corpus Christi Ship Channel Improvement Proj- ect. After decades of work we’ve recently signed a project partner- ship agreement with the us army corps of engineers to move for- ward with the deepening and wid- ening of the channel. For this to happen, the port has agreed to ac- celerate its cost share of the proj- ect, approximately $102 million, which allows construction to begin ahead of the corps of engineers receiving federal appropriations.