The Army Corps of Engineers has released more than $40 million to help deepen Charleston harbor.
The Corps announced Tuesday it will dedicate $41 million — about half of what is needed each year to keep work going. South Carolina has provided its share of the project’s funding in advance. However, the federal government has only set aside $66 million of the estimated $287 million it will need to dedicate for future work.
“When companies see that we are committed to our infrastructure, they have reason to be more confident in their investment in our communities,” Gov. Henry McMaster said in a statement released by his office. “Which means more jobs for our people.”
Construction began in February to deepen the harbor down to 52 feet to handle new, larger ships. If funding continues as scheduled, work would finish in 2021.