The 21st Century is placing new demands on local economies. The need to move people and freight through Southwest Connecticut is an increasing challenge. Yet, the Bridgeport Port Authority is ready for the challenges of this new world economy.
In the past few years the BPA has instituted the following initiatives:

•	Participation in the Port Inland Distribution Network as proposed by the Port Authority of New York and New Jersey
•	Renovation of the ports infrastructure and facilities
•	Continued improvements to Bridgeport's Ferry Terminal and dock.
•	Extra cargo and freight access to freight companies
•	Market analysis for institution of physical site planning for high speed ferry system from Bridgeport to Stamford to New York

Bridgeport Harbor
More than 4 million tons of goods flow into Bridgeport Harbor, the second most active port in the state. They include bananas, clementines, coal, sand, gravel, stone, gasoline, and oil.

Foreign Trade Zone
This Federal program facilitates trade and increases the global competitiveness of U.S. based companies. The FTZ is an area within the United States that the government considers outside the country, or at least, outside of the U.S. Customs territory. Certain merchandise can be imported into the zone without having to pay import duties. Duties may also be deferred or reduced in addition to being eliminated, lowering costs for businesses.

Bridgeport Regional Maritime Complex
In January 1999, The BPA made a bold move and acquired the former Carpenter steel property located on Bridgeport's harbor. The 48-acre former steel plant had been sitting vacant for 18 years. This parcel has nearly 2700 feet of frontage on Bridgeport Harbor and the yellow Mill River. With a financing commitment from the city of Bridgeport, the BPAs goal was to convert this property into a maritime business park and named it the Bridgeport Regional Maritime Complex. This property sat vacant for 18 years and once under BPA control, developed in 4 years. This was an example of the BPA marshaling the forces of the local, state and federal resources. It is home to Derecktor Shipyards and the Barge Service.

Bridgeport Barge Service
The State of Connecticut has awarded the Bridgeport Port Authority 1.5 million dollars to start a barge service at the Bridgeport Regional Maritime Complex. Initially, the service will handle 30,000 containers a year and bring 300,000 more tons of materials through the harbor, representing an 8% increase over the harbors current tonnage. The number of containers will undoubtedly grow in upcoming years. The project is expected to create approximately 100 new jobs. Another 15 acres of this parcel will be the site of the Bridgeport container service where containers from the port of New York and New Jersey will be shipped to Bridgeport by barge and off-loaded and transferred to their final destination from Bridgeport harbor.

Derecktor Shipyards
The BPA was successful in convincing Derecktor Shipyards, manufacturer of the Stars&Stripes, Americas Cup winner, to expand their operation to Bridgeport. In September 2000, the BPA and Derecktor entered into a lease agreement for 25 years for 23 acres at the BRMC. The BPA serves as the developer of the site and secured 8.9 million from the State of Connecticut and 2 million from the federal EDA. Derecktor will construct private yachts and commercials at its Bridgeport location. Under construction right now are two high-speed ferries for the State of Alaska. One, the M.V. Fairweather is completed and is schedule d to be in service in Alaska in the summer of 2004. Commercial services will have commenced with the installation of a 600 metric ton travel lift.

The development of these visionary projects means more employment opportunities and private investment in the city of Bridgeport. The planned operation of the Bridgeport to Stamford Ferry will benefit passengers as well as the local environment. For further information on any of these programs or to discover investment opportunities at the Port of Bridgeport, please contact us at: bpa1@snet.net