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CURRENT ISSUE

OFFSHORE WIND
What size market will offshore wind farms create for the U.S. marine industry?

Huge
Quite substantial
Limited
Negligible

March 7, 2010

North Florida Shipyards seeks $4 million loan

According to a local media report, the Jacksonville, Florida, Economic Commission, is to review a request by North Florida Shipyards Inc. to borrow $4 million from Jacksonville's allocation of federal American Recovery and Reinvestment Act funds.

The shipyard wants to add a hoist to lift vessels up to 600 tons, construct a basin in the St. Johns River to accommodate the vessels and complete related improvements. The total project cost is expected at $7.6 million, funded also by a federal grant and corporate investment. The shipyard projects 246 new jobs within the first four years of operation at an average wage of $39,900.


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