Florida Provides $40M To Improve State's Deepwater Ports

Law360, New York (June 15, 2012, 7:26 PM EDT) -- Florida Gov. Rick Scott on Thursday signed a pair of transportation bills into law providing more than $40 million of funding for the state's 14 deepwater ports, aiming to better position the state to benefit from an expected increase in international trade.

The new legislation creates a strategic port investment initiative within the Florida Department of Transportation ensuring that at least $35 million per year from the state's transportation trust fund supports port projects, according to the governor's office.

The bills also nearly doubles the annual...
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