The Port of New Orleans (Port NOLA) announced that it has been awarded an additional $226,220,195 million in federal grant dollars to assist in building the Louisiana International Terminal (LIT), which will create thousands of jobs, drive the economy, and position Louisiana as the premier international Gulf gateway of the future.
LIT was awarded the grant from the U.S. Department of Transportation through INFRA (the Nationally Significant Multimodal Freight & Highway Projects program). GNO, Inc. supported Port NOLA’s application to this discretionary program. Last month, USDOT awarded Louisiana International Terminal $74 million through Mega; GNO, Inc. also supported this application. This adds to $800 million of private funding committed by Ports America and Terminal Investment Limited, the project’s future terminal operators.
Port NOLA President and CEO Brandy Christian said, “Not only is this the biggest economic development grant in Louisiana history, but also the largest federal investment in a new container terminal in USDOT history.” LIT itself is the largest public economic development project in state history.
The Louisiana State Legislature committed $50 million during the 2023 State Legislative Session for the St. Bernard Transportation Corridor, the new roadway that will connect the terminal to I-510 and expand economic development opportunities across New Orleans East and the Northshore. Last week, the Port’s Board of Commissioners passed two resolutions to advance the corridor by authorizing a contract with global firm WSP USA Inc. to develop a public-private partnership strategy for the roadway. Earlier in 2023, the Regional Planning Commission awarded a contract for the Louisiana International Terminal Roadway Network and Resilience Study.
“This money to build a new terminal in the Port of New Orleans is good for commerce, good for jobs, and good for coastal communities,” said U.S. Senator Bill Cassidy, M.D. (R-LA). “Because I had a seat at the table for the infrastructure law, Louisiana is punching above its weight in the funding coming to our state.”
“This grant funding is a historic step towards transforming the economic landscape of Louisiana and solidifying our position as the premier international Gulf gateway. This additional investment will leverage Port NOLA's extensive connectivity to interstate systems, railroads, waterways, and hubs. This is yet another example of the Bipartisan Infrastructure Law bringing critical investments to our great state, and I am proud to see the legislation I championed yield big results,” said Congressman Troy A. Carter, Sr. (LA-02).
LIT is expected to generate 32,000 new jobs nationwide, 18,000 here in Louisiana, and 4,300 in St. Bernard Parish, as well as more than $1 billion in total new state and local tax revenue by 2050. Construction on this multi-year, phased project is anticipated to begin in 2025, with the first ship wharf opening in 2028.