N L - The Expansion of the Panama Canal and Its Impact on Virginia

The berths ton Roads, stands out among its Gulf and East should be long enough to accommodate the ships Coast competitors as a port prepared to handle and the shoreside gantry cranes must be able to the cargo from the shoreside to the landside, with reach across the ship to load and unload the boxes. [...] It now takes the same amount of time for cargo to transit from the Hampton Roads area to Chicago as it does for cargo departing the terminals at the Ports of New Source: CSX Corporation York and New Jersey, thus improving the compet- It does, however, benefit shippers in the form of itive position of the Port of Virginia and improv- environmental, cost and safety savings. [...] A Port As evidenced, the Commonwealth of Virginia’s Activity Job Tax and Investment Tax Credit Canal expansion, infrastructure is prepared to accommodate the included in the legislation provides incentives but the state can’t Post-Panamax ships and the expected increases to establish or expand operations related to the merely sit back and in cargo tonnage with the Panama Canal expan- marine termin. [...] warehousing space.12 As the fourth largest con- In 2011, the Virginia General Assembly tainer port in the United States, the Georgia Ports passed several port-related tax incentive plans.9 Authority proactively promotes the benefits of the The first tax credit, the Barge and Rail Tax Credit, state and its port system. [...] The views expressed are those of the author and not the official position of the Cooper Center or the University.