- Port NOLA has secured grant funds from the U.S. Department.
- The grant is a significant step toward transforming Louisiana’s economic landscape.
- The LIT is anticipated to generate a significant economic impact.
Port NOLA has secured an impressive $226,220,195 in federal grant funds from the U.S. Department of Transportation’s INFRA Grant Program, further bolstered by a $73.77 million MEGA Grant, totaling $300 million, reports Port Nola.
The funds are earmarked for the Louisiana International Terminal (LIT), a groundbreaking $1.8 billion container terminal in Violet, Louisiana. The project aims to enhance Louisiana’s international Gulf gateway status, with strong support from various stakeholders, including private industry partners, the State of Louisiana, and Port NOLA.
Bipartisan Support
U.S. Senator Bill Cassidy and Congressman Troy A. Carter, Sr., emphasize the positive impact on commerce, jobs, and coastal communities. Senator Cassidy notes Louisiana’s substantial gains in infrastructure funding due to his involvement in the legislative process.
Economic Transformation
Congressman Carter highlights the historic nature of the grant, describing it as a significant step toward transforming Louisiana’s economic landscape and a testament to the success of the Bipartisan Infrastructure Law.
Connectivity and Capacity
Port NOLA’s President and CEO, Brandy Christian, expresses gratitude for the grant, emphasizing the transformative potential of the project. The new container terminal is strategically located in Violet and will leverage Port NOLA’s extensive connectivity, including interstate systems, railroads, waterways, and inland hubs.
Public-Private Partnership
The LIT project represents a $800 million public-private partnership between Port NOLA, Ports America, and Mediterranean Shipping Company. This collaboration underscores confidence in the vision, making it the largest federal investment in a new container terminal in USDOT history.
State Commitment
Louisiana lawmakers have already allocated nearly $30 million for early development costs, and an additional $50 million for the design of the St. Bernard Transportation Corridor, connecting the terminal to the interstate system.
Job Creation and Revenue
The LIT is anticipated to generate a significant economic impact, with expectations of 32,000 new jobs nationwide, 18,000 in Louisiana, and 4,300 in St. Bernard Parish. By 2050, it is projected to contribute over $1 billion in new state and local tax revenue.
Timeline
Construction on this multi-year, phased project is set to commence in 2025, with the first ship wharf expected to open in 2028. The LIT’s development is currently in the federal permitting and design process.
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Source: Port Nola
