Ottawa-The Great Lakes and St. Lawrence Seaway is in the middle of a combination of public and private investment worth at least $10.9 billion to enhance its navigation system infrastructure for marine shipping, says a study by Martin Associates.

The investments, beginning in 2018 and running to 2027, will support long term planning and the achievement of economic development goals, while also building confidence in the system’s future viability, the study said.

The Canadian and U.S. investments include $828 million in vessel enhancements between 2018 and 2022 with another $427 million expected by 2027. Port and terminal infrastructure received $2.7 billion in funding between 2018 and 2022 with another $1.5 billion expected by 2027.

Waterway infrastructure such as locks, breakwaters and navigation channels, received $3.9 billion between 2018-2022, with at least another $1.6 billion planned between 2023 and 2027.

Martin Associates said the magnitude of investment revealed several important facts about the future of the economy, supply chains, and net zero initiatives in North America. One is that the marine shipping industry is focused on maintaining and building on its leadership as the most efficient, reliable, and sustainable way to move cargo.

As well, there is broad recognition that economic growth and GHG reductions can be achieved through significant investment in marine shipping, which is also a key conduit for commercial activity for North American businesses.

As the world undergoes a historic shift towards more sustainable practices, the marine shipping industry and the U.S. and Canadian governments are partnering to actively invest billions to lead in the transition.

The study showed that marine shipping on the Great Lakes and St. Lawrence Seaway supports tens of billions of dollars in economic activity in North America, hundreds of thousands of jobs, and billions in wages and taxes each year.

In addition to the billions invested by private marine shipping organizations in research and development, new infrastructure, and new service offerings, the survey captured major governmental funding initiatives aimed at enhancing infrastructure and improving supply chains. This includes the U.S. Bipartisan Infrastructure Law and Inflation Reduction Act, which were aimed in part at investing in green technologies and infrastructure enhancement, Canada’s Green Shipping Corridor Program, which will support increased sustainability within the marine sector and the federal Transportation Supply Chain Office to enhance supply chain effectiveness.

Transport Minister Pablo Rodriguez said the government “is working with industry to develop stronger and greener supply chains, especially through the new National Supply Chain Office and new Green Shipping Corridor Program. Canada and the U.S. are committed to developing green navigation, shipping infrastructure, and supporting sustainable economic growth. That’s exactly what this study highlights, and we’ll continue building on this in the years ahead.”

Terence Bowles, President and CEO of the Seaway Management Corporation, said, “Investments by the Canadian and U.S. Seaway Corporations, as well as marine shipping industry partners, have made the Great Lakes - St. Lawrence Seaway the strongest link in the North American supply chain. This survey speaks to how these partnerships continue to evolve, and to planned substantial future investments, which will make our economies stronger and our future greener.”

This news report was prepared for National Newswatch.