The Port of Oakland announced that its -50 Foot Harbor Deepening Project is set to receive $18 million in operations and maintenance from the U.S. Army Corps of Engineers’ fiscal year 2011 work plan, funding that is vital to the port’s competitiveness. The initial deepening to -50 from -42 feet represented a $433 million investment, with $243 million contributed by the federal government and $190 million contributed by the port, and took 10 years from planning to completion in late 2009.
“It is essential for the port to be able to accommodate the ever-larger container ships that require a deeper harbor,” says Omar Benjamin, Port of Oakland executive director. “This type of public-private investment in partnership with the federal government helps the Port of Oakland create over 50,000 direct and indirect jobs in the region and support over 800,000 jobs across the country.”
