PASADENA, TX-Vice President Joe Biden paid a visit to the Port of Houston's Bayport Container Terminal on Nov. 18 to highlight the importance of ports and the Panama Canal expansion. Specifically, the Vice President focused on Port of Houston investments that led to a 48% increase in exports, while acknowledging the port's involvement in almost $500 billion of economic activity annually.
The trip was part of an effort to spur more congressional funding in infrastructure improvements, such as ports. "Infrastructure matters and ports matter the most,” Biden said. “Investing in infrastructure is how you create jobs, and that's the secret of the journey of America.”
Biden was joined by Secretary of Transportation Anthony Foxx and a delegation of elected officials from across the nation. The Vice President also highlighted the $10 million TIGER Grant recently awarded to the Port Authority for expanding the wharf at the Bayport Container Terminal.
During his visit, Biden consulted with the Port Commission Chairman Janiece Longoria and other local and federal leaders, including Congressional members Gene Green, Sheila Jackson Lee and Al Green, regarding their vision for the region for job creation, economic growth and infrastructure development.
Forecasts indicate that by 2035, the number of containerized exports from Houston to Asia via the Panama Canal will increase more than five times what is exported through the port today.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
