Introduction
The President's Perspective
Dear Partners,
In 2009, The Port continued to fulfill its mission and expand its role in the economic development process by facilitating conduit type bond issues. In August of this past year, The Port authorized the issuance of Eleven Million Dollars ($11,000,000) of Caddo-Bossier Parishes Port Commission Taxable Revenue Bonds for the new Louisiana Coca-Cola Bottling facility located at the Shreve Park Industrial Campus.
In September 2009, The Port authorized the issuance of Ten Million Dollars ($10,000,000) of Caddo-Bossier Parishes Port Commission Recovery Zone Facility Bonds for the purpose of acquiring and revitalizing Northwest Pipe’s facility in Bossier City. The facility in Bossier had been idle for four years. When fully operational, the 187,000 square-foot re-tooled facility is expected to create up to 120 jobs at an average annual salary of $39,000 plus benefits.
Also, in September of 2009, Pratt Industries celebrated the Official Grand Opening of their 100% Recycled Paperboard Mill at The Port. At capacity, the mill will produce 360,000 tons of 100% recycled containerboard a year. Our local and regional economy has and will benefit greatly from the $160 million investment and the $133 million in sustained economic impact each year.
This past November, The Port authorized the financing of $9 Million through the Louisiana Community Development Authority (LCDA). The purpose of this financing was for the expansion of Red River Terminals and the addition of a truck terminal.
In 2009, The Port experienced an overall tonnage growth of more than15% and infrastructure improvements continued at a fast pace. In the first half of the year, we completed the re-use water line, the designs were completed for the Pratt Rail Spurs A & B and the re-use water pump station. In July, the bid for the new $10 million Warehouse & Distribution Center was awarded and in August, the bid for the $12 million slack water harbor Dock and Crane project was awarded.
In 2009, The Port’s favorable bond rating facilitated a refunding bond issue. S & P’s “A” bond rating of The Port enabled us to lower our overall debt service expenses and dedicate more Port dollars to work for the citizens of Caddo and Bossier.
Another major milestone was reached in 2009. Plans for the new $13 million Regional Commerce Center were developed and approved. The reality of this new center acknowledges the tremendous growth that The Port and its regional partners have experienced over the past several years.
As the year was coming to a close, The Port offered a workshop to focus on New Economic Opportunities at Southern University at Shreveport’s Small, Women and Minority Owned Business Incubator in Bossier City.
Because The Port of Shreveport-Bossier is dedicated to generating economic development in Caddo and Bossier parishes as well as creating job and investment opportunities, we wanted to provide our local contractors, workforce developing agencies and service providers with insight into how they may better participate in these economic opportunities as they arise.
On behalf of my fellow commissioners, I thank our U. S., State and local elected officials for their steadfast support. And, we commend the citizens of Caddo and Bossier parishes for their commitment to The Port. Their vision, with the passage of the Port Property Tax in 1993, makes it possible for The Port to be a powerful engine of economic growth for all of Northwest Louisiana.
I also deeply appreciate my fellow commissioners for their guidance, energy and tireless dedication to make The Port all that it can be for the citizens of Caddo and Bossier parishes. In 2009, we welcomed a new slate of officers, James Hall, Ron Miciotto and Erica Bryant.
I am very proud of the strong foundation upon which The Port has been built. Because of it, The Port is poised for growth and expansion. And, as we look back on 2009, we are reminded of the many ways THE PORT WORKS – for its business partners and their employees, for all the citizens of Caddo and Bossier parishes and for this entire region.
The core strengths of The Port of Shreveport-Bossier continue to serve as the springboard into a bright future as one of the fastest growing inland ports in the nation.
With kind regards,
Mr. James Pannell
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