The largest public economic development project in state history has now received the biggest economic development grant in Louisiana history, reports New Orleans City Business.
The Port of New Orleans (Port NOLA) announced that it has been awarded an additional $226,220,195 million in federal grant funding to support the $1.8 billion Louisiana International Terminal, a terminal that will be constructed on 1,100 acres in Violet in St. Bernard Parish and that will be able to serve vessels of all sizes, increasing Louisiana’s import and export capacity.
The U.S. Department of Transportation notified Congress that it intends to award this funding through its Infrastructure for Rebuilding America (INFRA) competitive Grant Program, which aims to advance the Biden administration’s priorities to rebuild U.S. infrastructure through funding of multimodal freight and highway projects.
This is second federal grant awarded to the LIT project. The U.S. DOT awarded $73.77 million to Port NOLA through its MEGA Grant program, totaling $300 million in federal grant dollars to support the first construction phase. Read more.