JERSEY CITY, NJ-Panelists at the Northeast Industrial Real Estate Summit held here on Wednesday disagreed on the impact the raising of the Bayonne Bridge and the widening of the Panama Canal to handle larger cargo ships will have on the region.
The multi-billion-dollar enhancements to the bridge and canal are expected to be finished in 2015 and will permit much larger cargo ships, coming from Panama, to enter East Coast ports. However, panelists at the conference were divided on how the larger vessels will impact the New Jersey ports and the local economy, according to The Record.
Some argued it would just mean fewer vessels delivering the same amount of cargo. "The number of containers that eventually dock at our ports over the course of the year, it's debatable how much of an increase we're going to see," said Alan Lambiase, director of sales and marketing for River Terminal Development in Kearny, NJ. See story in The Record.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
