Soo Locks Project Receives Major Boost, Army Corps Director's Report Released
Sault Ste. Marie,
June 29, 2018
Congressman Jack Bergman released the following statement following the preliminary release of the U.S. Army Corps of Engineers (USACE) Soo Locks Economic Validation Study and Post-authorization Change Report release:
"Building a new Poe-sized Lock in Sault Ste. Marie has been my number one infrastructure priority since taking office. The past months have been momentous as we seek to prioritize this project on the national level and today highlights the beginning of a new chapter in our effort. "The benefit - cost ratio in the Army Corps new study is nearly three times higher than that of the flawed 2005 analysis. The information released today, which I've fought to expedite, fund and complete, reflects a more realistic picture of the enormous value and benefit of the Soo Locks. Previous studies and analysis have failed to take into account national security implications and many economic realities. "For decades, politicians have been posturing on the issue of building a new Lock, with minimal results. The time for talk is over. I'm proud to have worked with the Army Corps to ensure this study was finalized, and applaud Army Corps leadership for recognizing the importance of this task, and for formally recommending the construction of a new Poe-sized lock in the Soo." The U.S. Army Corps 2018 Economic Analysis: 2018 Economic Analysis FY 2019 Projected Cost - $922,432,000 Benefit Cost Ratio - 2.42 (nearly three times increase) Previous Analysis WRDA 2007 Authorized Cost - $341,714,000 Benefit Cost Ratio from 2005 LRR - 0.73 |
