President Biden highlights how port infrastructure spending is helping with food and energy costs
The Bipartisan Infrastructure Law includes $17 billion dollars for upgrades to port infrastructure and the Portsmouth, New Hampshire Port recently used $18 million to widen its turning basin from 800 to 1200 feet.
“It’s easier, faster, and cheaper, and safer for ships to get in and out. The port can welcome larger ships, more cargo like the massive towers and hubs needed for offshore wind farms. We also announced an additional $1.7 million investment to dredge, another tricky part of a shipping channel where sands build up. Without that dredging project at the port might need more restrictions on what ships can and can’t pass through this harbor.”
President Joe Biden says the investment will help reduce expensive shipping delays.
“When you keep a ship in dock after the cargo has been delivered, it can cost $90,000 dollars a day when that ship is in port, and those costs can be passed on to you, consumers, whatever it happens to be.”
He says it also sends a message that American ports are open for business for critical goods that support the economy.
“A lot of important things come into these terminals, particularly this one. From salt to de-ice roads, to 85 percent of the home heating oil used in this state, and a lot of important things go out of this port as well, like massive reactor assemblies for nuclear power plants that are manufactured by Westinghouse Electric in New Hampshire. Recently, this port has been an important link to more construction equipment and materials for $2.3 billion dollar project that I’ve authorized in Portsmouth Naval Shippingyard.
During his speech, he also touted infrastructure job creation.
“All in, this port supports over 2,300 jobs that add $275 million dollars to this region’s economy, and that’s not even counting the more than 6,000 civilian contractors and jobs here over at the Navy Yard.”
President Biden said there’s still more work to be done to upgrade the nation’s roads and bridges in poor condition to ensure goods can flow to and from ports..