RESERVE, LA. — The Port of South Louisiana and Host — a ship agency, stevedoring and terminal operations company — have released a presentation that explains their vision for future growth at the Avondale Global Gateway.
PortSL intends to purchase the former Avondale Shipyard site from Host for $330 million. After the transaction, Host would act as the facility’s terminal manager and stevedore.
“We have a transformational opportunity to attract new industries and investment to the West Bank,” said PortSL CEO Paul Matthews in a press release announcing the new presentation. “Under our ownership and with Host’s continued management of the marine facilities at Avondale Global Gateway, I am confident in our ability to deliver new economic prosperity to Avondale and create thousands of jobs. As we continue to develop Avondale Global Gateway as a manufacturing and logistics hub, we see more opportunity for growth across the West Bank.”
PortSL and Host believe their combined expertise will “supercharge” growth at the global logistics hub, purchased by Host from shipbuilder Huntington Ingalls in 2018.
“In just a few short years after being transformed from a shipyard to a multimodal terminal, Avondale Global Gateway has returned to profitability and is poised to reach new heights of success through our partnership with PortSL,” said Host Chairman and CEO Adam Anderson. “Together, we will draw on our areas of expertise to bring on more tenants in our target industries, increase shipping capabilities, and create thousands of new jobs on the West Bank.”
Current AGG tenants include Gulf Wind Technology, a renewable energy developer; Top Vegetable Oils, a sustainable food processor; and Sesco Cement, a construction materials producer. Host believes these tenants prove the commercial viability of the site.
“With PortSL’s ownership, Avondale Global Gateway will become an even more desirable and competitive location to do business by opening the door for private developers to seek federal grant funding to onshore their supply chains,” said a PortSL spokesperson. “Recent federal legislation has made billions of dollars available for American business development and increased the demand for sites like Avondale Global Gateway that simplify supply chains.”
PortSL and Host also see growth potential in the 7,000 acres of undeveloped land surrounding AGG.
“This epic transformation will make the West Bank a center of global commerce,” said a PortSL spokesperson. “With AGG fully developed, the region stands to gain 2,000 on site jobs, 3,000-plus additional jobs across the state, $36 billion in total economic output, and a $6.1 billion increase in Louisiana payrolls. This is according to an economic impact report by Stephen R. Barnes, Ph.D.
