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Canal condundrums answered

EisnerAmper will host a special presentation examining how the expansion of the Panama Canal will spur real estate opportunities on the East Coast.

The Port of New York and New Jersey is the largest port on the east coast and third largest in the United States. It is estimated that the Port generated about 280,000 jobs, $11.6 billion in annual personal income and $37.1 billion in business income in 2010.

The widening of the Panama Canal is expected to result in cargo traveling on fewer, larger ships through the Canal and to the Port of New York and New Jersey. This is expected to result in significant efficiency savings for the shipping companies and their customers.

The Port Authority along with its port partners has invested more than $4B in system-wide enhancements throughout the Port over the past ten years and is in the process of investing an additional $1.5 Billion over the next few years.

The major current project is raising the roadway of the Bayonne Bridge so that the larger ships can travel under the Bridge to access the Port Authority facilities.

At the same time, there have been numerous other improvements to the Port facilities including deepening the channels,

expanding rail service, improving roadways and a continuing Clean Air Strategy to reduce emission of pollutants.

Private terminal operators have also invested in modernizing the major container terminals.

Eisner Amper has invited a panel of experts to discuss the expansion and its impact during an event taking place at the company’s offices at 750 Third Avenue, next Wednesday (February 5) from 5:00 p.m. – 7:30 p.m.

Speakers will include Diego Leiva, managing director, Keller Williams Commercial R.E. Division South Florida; Jeffrey Moerdler, Esq. member, Mintz Levin & Board Commissioner, Port Authority NY & NJ, David A. Paterson, Former Governor, New York State, Joe Williams, managing partner, KW Commercial & co-founder, Keller Williams. The panel will be moderated by Aaron Kaiser, CPA partner and co-chair of Real Estate Services, EisnerAmper LLP.

For information, contact Jenna Prager:

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