City Mayor unveils plan for infrastructure improvements designed to double exports by 2015
Los Angeles Mayor Antonio Villaraigosa has unveiled the city’s Regional Export Plan, which has ambitions to double exports by 2015.
To support the initiative, over the next five years the city will make major investments in the port of Los Angeles – US$1.5 billion to provide superior shipping and logistics infrastructure and attract first-class business tenants.
Phillip Sanfield, Director of Media Relations for Port of LA, said: “Several container terminal expansion projects make up a significant part of the investment. Those improvements will lead to more cargo growth, both in exports and imports.”
In addition, $370 million will go to the channel deepening project, to provide 16-metre depth at the port’s containership berths.
Sanfield said: “Several years ago, the port of Los Angeles launched TradeConnect, our own programme to help small and mid-sized businesses learn the basics of exporting.
“We’re very pleased that this effort will be expanded significantly across the region and co-ordinate our efforts with other agencies, public and private, that can assist companies in growing exports.
“The port of Los Angeles saw record exports in both 2010 and 2011, and we hope to see the trend continue,” he added.
The first step of the Regional Export Plan was to establish the Los Angeles Regional Export Council (LARExC), a collaboration of regional export service organisations including seven key partners: the Mayor’s office, Area Chamber of Commerce, Centres for International Trade Development, USC and UCLA Centres for International Business Education and Research, Port of LA and Los Angeles World Airports.
LARExC recently received its first private sector investment from JP Morgan Chase.
Source: IFW Net