A sum of $1m in capital funding has been released for the planned river port terminal in Cairo, Illinois, US.
What’s missing from your IPO industry assessment?
- Macroeconomic and demographic environment
- Consumer context
- Industry environment
- Competitive environment
- Route to market
Illinois State Senator Dale Fowler (R-Harrisburg) said that the funding demonstrates the state’s effort to revive the area and bring jobs to the region.
Fowler said: “Southern Illinois has such potential that has gone unrecognised and underutilised for too long.
“This port is a path forward for recovery, capitalising on Cairo’s location and creating the potential for future economic growth.”
The proposed terminal will be situated at the confluence of the Mississippi and Ohio rivers.
Following completion, the facility is expected to create a land-accessible transportation hub due to its close proximity to the Canadian National Railroad connecting Chicago with New Orleans, as well as three major Illinois interstates.
Fowler further added: “We know that developing a river port terminal would create widespread opportunity for business development and industry expansion.
“If we create this port authority, businesses will come, revenue will be generated, and jobs will be created.
“This funding marks a major milestone for this project, signalling that progress is underway.”
Alexander-Cairo Port District revealed that over a dozen companies showed interest in the Cairo riverport project.
The project is expected to use all of its capital funding by June and intends to complete permitting procedures within 24 months.
Related Companies
What’s missing from your IPO industry assessment?
- Macroeconomic and demographic environment
- Consumer context
- Industry environment
- Competitive environment
- Route to market