What is the cost to benefit ratio?
Initially, the Army Corps of Engineers claimed a $1.40 return for every dollar spent on this project. With the release of their new analysis report in 2002, the Corps now states a $1.18 return per dollar spent. Additionally, over $40 million annually will be save in transportation, or lightering, costs that takes place outside the channel for ships with a draft in excess of 40 feet. An external and independent review was conducted by a panel of three navigation economic engineers, including professors from Washington State and George Mason Universities, as well as a private industry navigation expert. They agreed with and approved all aspects of the Corps economic analysis.
