Nearly $4M headed to area port authorities

WASHINGTON, D.C. -- U.S. Senator Kit Bond recently announced that the Southeast Missouri Regional Port Authority and the New Bourbon Port Authority will each receive federal funds from the Economic Development Administration (EDA) to make repairs caused by the severe floods of 2008 and to upgrade systems to withstand future flooding.

"Businesses in Southeast Missouri and all across the state depend on our nation's waterways and rail lines to ship and receive goods and products," Bond said. . "Ensuring these businesses are able to continue operating during times of crisis is not only a good investment, it makes good economic sense."

Bond, a member of the Senate Environment and Public Works Committee that oversees the EDA, announced that the Southeast Missouri Regional Port Authority will receive $1,867,500 for repairs and improvements to the rail transportation system at the Port.

Specifically, the funds will be used for the stabilization of fill slopes, to upgrade work to the main track and sidings, and for the construction of new spur tracks to serve Port customers and provide above-flood railcar storage. These repairs and upgrades will improve the Port's commercial activity by providing a permanent solution to prevent future flood damage.

The New Bourbon Port Authority will receive $2,290,500 for a new high water dock facility. This new facility will allow business activities to continue during periods of high water.

As a result of the 2008 floods, many companies in St. Genevieve and the surrounding communities were forced to shut down operations and temporarily layoff employees when the flooding caused outgoing shipments to cease.

"The investment of these federal resources in the Southeast Missouri and New Bourbon Regional Ports will have a tremendous impact for generations to come," said Chauncy Buchheit, Executive Director of the Southeast Missouri Regional Planning and Economic Development Commission.

"Building our nation's multi-modal infrastructure is a win-win for our environment and economic development in our region. Kit Bond has always understood the importance of building our nation's infrastructure and how Missouri's inland ports can open new doors for economic development."

Bond has long been a supporter of ports, waterways and rail lines as effective, cost-efficient and environmentally friendly ways to transport goods and promote economic development. In 1974, then Governor Bond signed into law Chapter 68 of the Missouri Revised Statues which allows every city or county situated on or adjacent to the Mississippi River to form a port authority for the purposes of promoting the general welfare, development within the port district and to encourage capital investment through the creation of industrial facilities and industrial parks.