Study Shows Modernizing Soo Locks Could Bring Billions In Economic Benefits
A new study says modernizing the Soo Locks could bring billions of dollars in economic benefits.
The U.S. Treasury Department lists the modernization of the locks in Sault Ste. Marie as one of 40 American transportation and water "mega-projects."
According to the study, a second Poe-sized lock has an estimated net economic benefit of as much as $1.7 billion.
The study also notes if the locks had to close there is no alternative to transporting more than 40 million tons of iron ore and coal.
Last year the Department of Homeland Security said a six month closure of the Poe lock could cost up to 11 million people their jobs across the country.