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GEORGIA governor Sonny Perdue and South Carolina governor Mark Sanford have unveiled a framework for a new port in Jasper County, South Carolina, developed and operated jointly by the two states.
The two states would form a bi-state port authority owned on a 50:50 basis. The plan would require approval by the two state legislatures and ratification by Congress.
"Today's announcement marks an historic day in the long-term economic viability of this region," said Governor Perdue.
"If South Carolina and Georgia are going to maintain our respective competitive advantages when it comes to being south eastern shipping destinations, the time to act is now," Governor Sanford said.
Under the proposal, each state will bear one half of the cost to acquire the land, as well as share the administrative costs.
Both states also intend to ask private companies to submit proposals to participate in the development the first phase of the Jasper Terminal site using private capital.
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