Galveston Wharves Port Director and CEO Roger Rees announced that Texas ports are on the path towards getting $600 million in state funds for capital projects and ship channel improvements, according to a statement.
“This sea change reflects recognition of the critical role Texas ports play in strengthening economies and supply chains across the globe, as well as the return on investment the state will receive by investing in these economic engines,” said Rees.
The funding includes $400 million for the Ship Channel Improvement Revolving Fund (SCIRF) and $200 million for port improvements. Texas is one of the few U.S. states that does not provide funding for port improvements despite ranking high in waterborne commerce. This funding is also critical for the Port of Galveston which has no taxing authority and funds capital projects through revenues, grants, financing and public/private partnerships.
“I’m hopeful because legislators in both the House and Senate support legislative changes to ensure that port projects are eligible for funding through the Texas Department of Transportation. More importantly, the funding is included in both House and Senate versions of the budget,” added Rees.
“The funding would allow Texas ports to make critical capital improvements that support port activity such as multi-modal connectivity enhancements, port expansions, and replacement of outdated and failing port facilities. This would be a great beginning, but the needs are far greater than the funding considered.”