Jul 5, 2016
Expanding Panama Canal bulks up Houston’s economy
HOUSTON – A massive $5 billion expansion project at the Panama Canal is finally complete.The supersize Panama Canal could increase Houston's direct trade with Asia.The equivalent of 600,000 of 20-foot...
HOUSTON – A massive $5 billion expansion project at the Panama Canal is finally complete.
The supersize Panama Canal could increase Houston’s direct trade with Asia.
The equivalent of 600,000 of 20-foot containers come to Texas from the West Coast.
Houston’s lower costs and more tranquil labor relations also could divert some cargo from the West Coast, said Patrick Jankowski, senior vice president of research for the Greater Houston Partnership.
Think of it as a HOV lane to the world, allowing bigger container ships to take a shortcut, carrying even more products we buy to the United States. And the Port of Houston is one of the biggest off ramps.
To prepare for the bigger ships that will soon arrive in Houston, the Port Authority spent millions of dollars upgrading its infrastructure, bringing new construction jobs to the region.
The Port Authority installed bigger cranes, reinforced docks and deepened and widened channels to its container terminals.
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