Hannibal Regional Port Authority receives funding
Hannibal, Mo. (WGEM) - The Hannibal Regional Economic Development (HREDC) announced Tuesday that the Missouri Department of Transportation (MoDOT) had approved funding for the Marion/Ralls Regional Port Authority (MRRPA), dba Hannibal Regional Port Authority, to purchase land in Taylor, Missouri, for new public development.
Corey Mehaffy, Executive director of HREDC, confirmed that his office received confirmation in April of up to $1,670,545 of Missouri Port Capital Improvement Program (CIP) funding available for the purchase of property at the new port site.
Mehaffy indicated that these state funds require a minimum 20% match.
According to Mehaffy, the Marion County Port Authority, MRRPA was established on Dec. 2, 2020, as a political subdivision of the State of Missouri by the action of the Commissioners of the counties of Marion and Ralls.
In 2020 and 2021, MRRPA commissions two feasibility studies with Klingner and Associates, P.C.
“I am not interested in spending taxpayer money if there is no long-term sustainability to the port development,” said Mehaffy. “It was important for us to complete the studies to provide the Port Board of Commissioners with data to inform their decisions moving forward.”
The recent port feasibilities studies conducted by Klingner identify companies that could potentially utilize a multimodal port on the Mississippi River, offering rail, truck and barge access for outbound and inbound shipments of commodities; final products, and materials both domestically and internationally.
These studies aimed to learn how commodities, manufactured goods and raw materials flow from producers to markets, and how producers receive their components for production.
Findings indicate a local potential for port facility development at the proposed West Quincy location. It is hypothesized that not only will the local business seek to utilize a public port facility, but new and regional businesses will likely seek out the facility in the future.
“The market and feasibility studies looked at multiple locations in the counties of Marion and Ralls, but the West Quincy, Missouri, the site was determined as one of the most feasible for a number of reasons,” said Mark Bross, Branch Manager of the Office for Klingner and Associates.
Mehaffy said that the current landowners were eager to work with MRRPA. Family members mentioned that they had held this property over the years looking for a project like this that would positively impact the area.
“We are very grateful to the Baker and Dawe families for their willingness to sell this property to the port,” said Mehaffy. “This property is strategically located on the river and will be the only public port from St. Louis, MO to the Quad Cities, IA to offer truck, barge and rail services.”
Mehaffy added that his office submitted an application for the 2022 Rebuilding American Infrastructure with Sustainability and Equity (Raise) Grant Program.
According to Mehaffy, Klingner has estimated that the infrastructure development for the proposed port will cost over $17 million. MRRPA expects to hear back about these funding applications later this summer and in the fall.
For more information on MRRPA and its organization visit https://hredc.com/marion-county-port-authority/.
To learn more about HREDC visit www.hredc.com.
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