Will an Expanded Panama Canal Help Texas Ports?

AUSTIN, April 13, 2017 - In 2016, the Panama Canal completed a massive expansion that allows it to accommodate many more of the larger cargo ships navigating today’s global trade routes – and it could mean new economic opportunities for Texas ports.

For Texas to benefit fully from increased ship traffic in the Gulf of Mexico, however, it must expand its ports and their accompanying infrastructure. In this issue of Fiscal Notes, we examine the canal’s expansion and the impact it could have on the Texas economy.

“As the nation’s top exporting state, we have an obvious interest in the Panama Canal’s expansion,” Texas Comptroller Glenn Hegar said. “The canal provides an essential link between Asian economies and the West. To take full advantage, Texas ports are spending billions to deepen channels and widen waterways to accommodate bigger ships.”

 
 
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