Amid a worldwide recession and slowing global trade, the Port of Long Beach, said Executive Director Richard D. Steinke, is doing all it can to provide a local economic boost by working on projects that will secure the Port’s future as a leader in the industry.
In his annual “State of the Port” address, Steinke said although global economic turmoil has led to a decline in cargo volumes, the Port remains committed to its plans for modernization and environmental improvement projects.
Not only will the projects support thousands of construction jobs at present, but they will also add tens of thousands of jobs to the goods movement industry job base in the region.
“The world will rebound from this economic downturn, and when it does, we will be at the forefront because of the investments we are making today,” said Steinke, at a luncheon hosted by the Long Beach Area Chamber of Commerce’s International Business Association.
The Port of Long Beach has been in the planning process for these projects for some years, well before the start of the current recession. The long-planned infrastructure development projects total about $2.6 billion worth of construction in the coming years.
The improved terminals, roadways, channels and railways will not only make Long Beach more attractive to the shipping industry, they will also lessen the Port’s impact on the environment.