Port of Victoria gets $3 million fed grant for rail loop
February 13th, 2021
February 12, 2021 - TRA Newswire -
A federal grant of $3 million will go toward an equal match from the Port of Victoria to support infrastructure improvements that include a 1.9 mile long rail loop. The rail project for the Victoria County Navigation District will support existing and future business development at the port.
The U.S. Department of Commerce’s Economic Development Administration (EDA) award comes under the Coronavirus Aid, Relief and Economic Security Act (CARES).
The Port of Victoria is served by both BNSF Railway and Union Pacific Railroad. The new rail infrastructure project is expected to create 83 jobs, retain 300 and generate nearly $46 million in private investment, according to an EDA news release. The rail loop will allow the port to handle larger capacity trains that businesses need to remain competitive.
The Port recently formed an Industrial Park with multi-modal access. The Park is located within a Foreign Trade Zone and a Texas Enterprise Zone. The Port of Victoria is a center for the chemical, construction and steel fabrication and agribusiness industries.
Acting Assistant Secretary of Commerce for Economic Development Dennis Alvord said "this rail expansion will accelerate economic and business growth at the Port of Victoria and strengthen the region’s economic resilience."
A federal grant of $3 million will go toward an equal match from the Port of Victoria to support infrastructure improvements that include a 1.9 mile long rail loop. The rail project for the Victoria County Navigation District will support existing and future business development at the port.
The U.S. Department of Commerce’s Economic Development Administration (EDA) award comes under the Coronavirus Aid, Relief and Economic Security Act (CARES).
The Port of Victoria is served by both BNSF Railway and Union Pacific Railroad. The new rail infrastructure project is expected to create 83 jobs, retain 300 and generate nearly $46 million in private investment, according to an EDA news release. The rail loop will allow the port to handle larger capacity trains that businesses need to remain competitive.
The Port recently formed an Industrial Park with multi-modal access. The Park is located within a Foreign Trade Zone and a Texas Enterprise Zone. The Port of Victoria is a center for the chemical, construction and steel fabrication and agribusiness industries.
Acting Assistant Secretary of Commerce for Economic Development Dennis Alvord said "this rail expansion will accelerate economic and business growth at the Port of Victoria and strengthen the region’s economic resilience."