Port of Davisville Infrastructure Rehabilitation/Replacement Program February 2016
Port of Davisville RI’s only Public Port • One of the Top 10 auto import locations in North America • 2015 sixth consecutive record breaking year • A record 193 ship calls in 2015 • 227,021 autos imported in 2015 • Additional 42,150 auto by rail and truck • The Port of Davisville now handles more than six times the volume of automobiles shipped there in 1996, a 547% increase 2015 NARRAGANSETT BAY • Port of Davisville represents nearly half of IMPORT VESSEL ARRIVALS Port of Davisville import vessel calls into Narragansett Bay Other RI Terminals and Ports 45% 55% 1
Port of Davisville Economic Impact R/ECON Input-Output Model analysis of 2014 cargo activity: ● $333 million in business output ● Over 1,500 direct, indirect and induced jobs ● $97 million in household earnings ● $17 million in state taxes ● $10 million in local taxes SOURCE: Economic and Tax Effects on the Rhode Island Economy of Major Business Activity at the Port of Davisville in 2014, FXM Associates, November 4, 2015 2
Port of Davisville – Pier 2 Pier 2 ● Constructed: 1956/1957 ● Type: Earth Filled Marginal Wharf ● Use: Public Port ● Design Life: 50 years PIER 2 ● Age: 60 years 3
Port of Davisville Pier 2 – Rehabilitation Cost Pier 2: Rehabilitation $82 million (2015 $’s) 975 construction jobs resulting from this investment 4
Port of Davisville - Pier 2 Rehabilitation • Phase 1: Engineering and Permitting $ 4,000,000 • Phase 2: Dredge East Berth $ 3,800,000 • Phase 3: Construct East Berth $16,100,000 5
Port of Davisville - Pier 2 Rehabilitation Phase 4: Install New Sheet Pile South Side $37,800,000 Phase 5: Install New Sheet Pile East Side $20,300,000 Construction East Berth South Berth Construction 6
Port of Davisville - Pier 2 Rehabilitation Estimated impact of Annual Inflation of 2.00% 2.00% 4.0400% 6.1208% 8.2432% 10.4081% 2016 2017 2018 2019 2020 2021 Total Design & Permitting of Pier 2 $4,000,000 $4,080,000 $4,080,000 Pier 2 Improvements Dredging $3,800,000 $4,032,590 $4,032,590 Pier 2 Extension $16,100,000 $17,085,449 $17,085,449 New Anchored HZ-M Bulkhead Pier 2 South Face $37,800,000 $40,915,936 $40,915,936 New Anchored HZ-M Bulkhead Pier 2 East Face $20,300,000 $22,412,840 $22,412,840 Total $82,000,000 $4,080,000 $0 $21,118,039 $40,915,936 $22,412,840 $88,526,815 7
Port of Davisville - Pier 2 Rehabilitation Total Project Cost: ($90,000,000) Source of Funds: Proposed General Obligation Bond $70,000,000 *Kushner Approved Revenue Bond $20,000,000 * The revenue bond will be repaid exclusively by the QDC and port users. It will fund a portion of the port improvement initiative at no cost to state taxpayers. 8
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