Port of Everett Receives Nearly $6M Federal Loan for Rail Upgrades
Washington’s Port of Everett was awarded a $5.9 million loan from the U.S. Department of Transportation’s Build America Bureau to assist with ongoing rail upgrades at the facility, Secretary Elaine Chao announced.
The Railroad Rehabilitation and Improvement Financing loan for the project is meant to assist with the expansion of on-terminal rail capacity. The project intends to alleviate local road congestion.
“This funding will help fund a key port in Washington state to handle more cargo, thereby helping our country remain competitive in the increasingly global economy,” said Chao in a Nov. 1 statement.
“I’ve been proud to work with the Port of Everett to secure federal investments to ensure the port continues to meet the demands of the 21st Century economy, and I’m thrilled to see the federal government bring even more resources to the table. This investment will help complete vital modernization projects and support an important economic hub in Washington state,” noted Sen. Patty Murray (D-Wash.), a member of the Appropriations Committee.
The port primarily operates in the handling of oversized, overweight cargoes. Washington-based Boeing Co. is among the firms utilizing the port. According to background provided by the port, the system includes rail to facilitate the flow of exports and imports from industries such as aerospace, construction, manufacturing, energy, agriculture and wood.