bigger, deeper, wider - swg.usace.army.mil saathoff february … · (forbes magazine) 10th in...
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Bigger, Deeper, Wider
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Port Freeport Nationwide Annual Economic Impact
Total Jobs
Total Federal Tax Revenues
Total Economic Impact $149 Billion
279,780
$5.4 Billion
* Texas A&M Transportation Institution (TTI) Study
2019 EIS*
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Top 10 Fastest Growing U.S. Ports for Exports (Forbes Magazine)
10th in Chemicals
19th in Total Tonnage
26th in Containers
Port Freeport Ranking
Source: Port Freeport Analysis of U.S. Census Bureau
Exports(In Short Tons)
*
*Exported 1st cargo September 3, 2019
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More than 1,030 vessels called Port Freeport in 2019
Approximately 21 million tons of cargo transported annually
Vessel calls forecasted to increase approximately >35% over next 3-4 years
> 50% increase in tonnage forecasted
Port Freeport: Vessels and Tonnage
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Robust Petrochemical Complex
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More than $32 billion invested in new production facilities
Unprecedented Growth in Brazoria County
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Project First Costs (includes construction, PED, construction
management, etc.)
ConstructionStart Date
56’Reach 1 $177,386,000 FY 2022
56’
51’ Reach 2 $49,620,000 FY 2021
51’ Reach 3 $29,460,000 FY 2020
26’ Reach 4 $3,400,000 FY 2023
New PA#8 $12,264,000 FY 2020
Freeport Harbor Channel Improvement Project
Total Project Cost: $295 million
Current depth – 46 feet MLLW
Project depth – 51 to 56 feet MLLW
Deepens the channel
Port Freeport will be the
Deepest Port in Texas
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2012
2014
Chief’s Report Received
Congressional Authorization
FHCIP Timeline
2015
2018
2020
2025
GRR Initiated
GRR Approved
Begin Construction: New start designation in USACE FY2020 Work Plan
Expected Project Completion
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Total Cost to Construct$295 Million
Freeport Harbor Channel Improvement Project
Federal cost-shared project authorized by Congress in 2014
USACE FY2020 Work Plan • New start designation • $19 million federal
funding
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Bond Package Approved by Voters May 2018
$35 million of the $130 million bond package issued in June 2019
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Freeport Harbor Channel Improvement Project
Executed 217A agreement with USACE
Expected completion – March 2020
$4.2 million funded by Port
Dredge Material Placement Area 1South of State Highway 36 Levee Raise
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Freeport Harbor Channel Improvement Project
Dredging of Reach 3 (green) – 51 feet Engineering/design complete Commence construction 2020 Complete near year end
Dredging of Reach 2 (red) – 51 feet Engineering/design in progress Commence construction 2021 Complete 2021
Initiate Engineering/Design Reach 1 (purple) in 2020 – 56 feet
Start Constructing in 2020
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Updated BCR with Crude Oil Exports
2.6 BCR Overall at FY19 discount
1.7 BCR Overall at 7% discount
Return on Investment
159% ROI Overall
Federal Investment:
344% ROI at FY19 discount rate
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Thank you
www.portfreeport.com(979) 233-2667