JAXPORT officials say they've met a major step in improving the port: receiving $17.5 million in federal funding towards deepening the St. Johns River.
Advocates say this will allow for bigger container ships and will make Jacksonville a major port city.
JAXPORT spokesperson Nancy Rubin calls this first phase of federal funding a milestone, even though it's only a drop in the bucket towards the ultimate cost of the project, and also despite the fact we still don't know exactly how it's going to be paid for.
It's safe to say JAXPORT officials are excited about the funding for the river dredging project, which they say will greatly boost Jacksonville's economy: Bringing in big ships and an estimated 15,000 jobs.
"If you look at the big picture, this funding says the federal government believes in this project," Rubin said.
Despite the fact JAXPORT is still over $660 million dollars away from their goal, Rubin said this first wave of funding is a very positive indication of the government's intentions.
"What this says is the government believes there's a need for this shipping channel to be deep enough for this channel to accept bigger ships, and they're committed to the entirety of the project."
Still, there are plenty of questions as for how the rest of the project will get paid off. Rubin says projects like these are typically paid halfway by the government. She admits, however, that could change.
Rubin said the rest of the project will be paid for by a combination of money from the state, JAXPORT and possibly through city fund contributions.
Business Journal Editor-In-Chief Timothy Gibbons says there are some who were hoping to have the cost figured out by now.
"I think there are some people who thought these numbers would be nailed down earlier, part of the question is figuring out how much it will ultimately cost and who will pay for it is kind of intertwined," Gibbons said.
Regardless, Rubin said the payment plan will be revealed soon. As for how soon? She said, "stay tuned."
"It is being laid out, there is a plan under discussion, it is being worked out every day, and very soon now we will be able to discuss the plan for getting this project done," she said.
Rubin said this project is still likely 5 to 6 years down the line.