(WCIV)CHARLESTON, S.C. (WCIV) -- Officials with State Port's Authority are thanking state lawmakers for helping them move forward with an effort to dredge Charleston's harbor.
In a statement released by SPA Tuesday evening port leaders said, "We are most appreciative of the members of the House Ways and Means Committee for recognizing the importance of our state's harbors by establishing the State Ports Authority Harbor Deepening Reserve Fund."
The fund was established to allow the state to help the federal government pay for the $300 million project.
According to port spokesperson Allison Skipper, South Carolina is set to pay for 60% of the project, while the remaining 40% of the cost-share is being funded by the federal government through the Corps of Engineers.
"This fund establishes where that state money will come from, an interest-bearing account whereby any funds can only be spent through a Joint Resolution by the SC General Assembly," Skipper said.
Port leaders say modernizing the harbor is essential to meet the demands of global trade and to fulfill the Ports Authority's mission to develop economic activity and job creation in South Carolina. "We commend the Ways and Means Committee for their strong support for a deepened shipping channel in Charleston," port leaders said.
Skipper says the committee is expected to discuss putting money in the fund Wednesday in Columbia.
