by David Chapman
Staff Writer
When he came across the country to take a position with the Jacksonville Port Authority in 1997, Rick Ferrin didn’t think his stay in town would be as long as it has been. Three to four years tops, he thought, to learn the marketing aspect of the business before he went back to the Oakland Port Authority.
Sometimes, though, opportunity besets even the best laid plans.
“You’ll notice I’m still here,” said Ferrin to the Meninak Club of Jacksonville, “because what I saw when I got here was a port with tremendous potential.”
Ferrin talked to nearly 100 members of the civic organization during its weekly meeting Monday, but it wasn’t about the past so much as it was about the present and future of the Port and its impact on the region.
The opening of east-west trade lines in the past decade, as evidenced by the Hanjin and Mitsui deals, as opposed to relying heavily on north-south trade corridors was vital to reach the Port’s potential as a global leader.
That future looks to be around 2014, when the Panama Canal widening is slated to be completed and post-Panamax ships could potentially use the Port. For that future to be realized, work must be done in terms of dredging the channel to around 48 feet deep by that time so larger ships could be accommodated. The channel is currently 41 feet deep.
The U.S. Army Corps of Engineers is in the process of performing an environmental analysis on how such dredging would affect salinity and overall health of the river. The agency has 18 months to file its report and Ferrin asked for patience from critics.
“I don’t know (what the results will be),” he said. “Nobody does yet because the engineers haven’t completed the study.”
If the study is favorable and the dredging project moves forward, a hefty price tag of what Ferrin believes will be around $500 million is a major hurdle but one he believes is worth jumping.
“That is the hardest star that must align,” he said, regarding the dredging and accompanying cost.
If things go as Ferrin believes, the future impact of the Port he presented to the organization is one that had many nodding their head in approval and in awe of the figures: 75,000-100,000 regional jobs, a $5-6 billion impact, becoming the third largest port on the East Coast, having as many as six cargo terminals and a year-round cruise service.
Though the down economy has affected the bond markets and the Port’s ability to secure funds for capital improvements and expansion, Ferrin said the market is slowly picking back up and the authority will continue to implement its plans.
“If you ever go out to a port and they’re not building anything, they’re dying,” said Ferrin. “I want those jobs and I want Jacksonville to be a port city.”
Talk of a Mayport Cruise Terminal was brief, as Ferrin responded to a question on its status. In 2012, the existing temporary cruise terminal comes down and the Port’s board of directors will have the next year to 18 months to determine viability. Even after looking at other sites and the pros and cons associated with them, though, Ferrin noted that Mayport was still the best location.
For Meninak members, Ferrin’s update touching on the past, present and future of the “economic enabler” for the region was an enlightening one.
“Clearly, the Port is an economic engine here and it’s what will help our city grow,” said Meninak President Bunky Johnson. “Rick’s very knowledgeable and we’re lucky to have him.”
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