A proposed effort by Virginia Governor Bob McDonnell to increase
traffic at the Port of Virginia could have long-lasting positive economic
impacts on Hampton Roads business and Currituck County. The port has struggled to recover from the
recession and increased competition along the East Coast has forced the
government to step in and look for alternatives. The port is very necessary to
Hampton Roads business, accounting for over 10% of the entire region’s Gross
Domestic Product (GDP).
Governor McDonnell’s plan to increase traffic is already underway
as he has made changes to the Virginia Port Authority Board of Directors.
McDonnell would also like to privatize the port and Virginia has already
received three proposals from private businesses to operate the facilities.
Government officials say brining in a private company to run the port because
the current practice of recruiting shipping lines, while helping overall
traffic growth, creates fewer jobs than the impact of new distribution centers
that a private company would bring in. Currituck County officials also note
that a private company would better streamline the port’s operations and better
solicit new cargo.
What can help the port and Currituck County and Hampton Roads
business is the port has advantages over its competition. The Port of Virginia
has no overhead obstructions like bridges which will allow for more efficient
cargo delivery than other ports in the Northeast and Southeast.
Currituck County and Hampton Roads business could benefit from
private management of the port because maritime and port related industries are
high target industries for Currituck County. Currituck
County also has the direct rail, highway, and waterway access to the Port of
Virginia and Hampton Roads Business. Currituck County
also has available warehousing and manufacturing sites available for increased
services to Hampton Roads business and the port.
Because Currituck County has a lower tax rate than what Hampton
Roads business pay, Currituck County officials also say
because Currituck is only approximately 30 miles from the port, the growth at
the port will grow the industry in the county and provide jobs and a positive
economic impact for county residents.
Expansion of ports and the need for ports to handle larger
shipping vessels is a result of the expansion of the Panama Canal, which was a
plan approved by the Panamanian’s in 2006 and is expected to double the
capacity of the Panama Canal by 2014.
In early September the deadline for proposals from bidders on the
Port of Virginia was pushed back to November 1, however the selection date for
a preferred proposer has been left open-ended.
For more Contact:
Think Currituck
P153 Courthouse Road, Suite 207
Currituck, NC 27929
Phone:
http://www.thinkcurrituck.com/
