The Panama Canal will double its capacity during 2015 because of the new expansion project. This presents a marvelous opportunity to cities like Miami. More than half of the merchandise that travels to the Panama Canal, come or goes to the United States.
The port of Miami is ahead of the game with the dredge to receive ships of up to 50 feet. Other infrastructure upgrades that include crane automation, and a billion dollar tunnel connecting the port with the major highways are underway.
The short distance from the canal along with the port updates will most likely make Miami the most attractive port in Southern United States.
In November 2013, Vice President Joe Biden said during a news conference: “When the Canal doubles its capacity, the United States has a potential to expand exports at a considerably lower cost and considerably higher volume.”
Several cities, as Charleston, Savannah and New Orléans are working around the clock to get funding for projects in time for the opening of the canal.
The port of Miami is also one of the nation’s largest cruise terminals, servicing close to 4 million passengers a year. The expected increase in trading and tourism, will continue to boost the current blooming Miami and surroundings Real Estate Market with 69 proposed new condo towers and 57 projects already in construction. Prime residential areas like Silver Lakes in Pembroke Pines and Miramar will benefit as new jobs are created. Offering the benefits of city living, activities for all ages combined with nature escapes on your backyard.
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