PORT AUTHORITY CONTINUES TO SHOW LOTS OF PROMISE

The Southeast Missouri Regional Port Authority had cause to celebrate in 1991. The port authority saw a significant increase in tonnage, and welcomed its fourth tenant late in the year. Hopefully, the coming year will bring continued progress in development of the regional port.

Last year, 48,867 tons of bulk commodities and other cargo moved through the port. That represents a substantial 72.6 percent increase over the year before. Salt and bulk fertilizer were the main commodities moved through the port, as well as sizable shipments of potash, corn and other nitrates.

But while the port continues to make significant advancements, there is still much work to be done in attracting new industries and jobs.

Topping the list of port authority priorities is the extension of Nash Road eastward from I-55 into the port site. New hope for this project may materialize in 1992 in the form of a proposed 6-cent gas tax hike. State officials have indicated this road extension would be among those projects funded if the tax plan is approved. The extension may cost about $5 million. So far, the port authority has spent about $250,000 toward the project for such things as engineering, cultural surveys, legal fees, appraisals, and property acquisition.

Construction is also progressing on a railroad spur into the port site, with completion of phase 1 expected this year. The $2 million project will extend the rail spur about 7,200 feet.

With the completion of the rail spur and ultimate extension of Nash Road, port officials feel they can offer a unique mix of intermodal transportation. Access to interstate highway, river, rail, pipeline, and air transportation are within a three-mile radius of the port site. And that fact should continue to assist in port development.

Our port authority compares well with other neighboring facilities. Of the 15 ports authorized in the state now, eight are operational and have provided $150 million in private capital investments with 330 jobs.

The Southeast Missouri Regional Port Authority represents a substantial commitment by area residents. Of the $12 million investment at the port site, only $1 million has come from state funds. The lion's share of funding $7 million was generated locally through a four-year sales tax. The remaining $4 million was provided by the federal government.

The region's investment is beginning to pay off in terms of new tenants and interest in the port. First Missouri Terminals became the fourth tenant at the site late last year, joining Midwest Agri-Chemico, dock operators Girardeau Stevedores and Contractors Inc., and Egyptian Concrete.

There is also considerable new tenant negotiation on the horizon. A fast-growing private energy firm is studying the possibility of locating at the port site. Port officials are conducting "serious negotiations" with a number of other firms, which represent a potential capital investment of $97 million and more than 135 jobs. As such, 1992 should be an important year for the Southeast Missouri Regional Port Authority.