Economic Development News
Heartland Port Authority receives Grant
Published: Monday, October 14, 2019
The Heartland Port Authority recently applied and was awarded a $183,700 Grant from the Missouri Agricultural and Small Business Development Authority (MASBDA).
The Heartland Port has contracted with Decision Innovation Solutions to conduct a Missouri Port Market Study and Business Development Plan that will provide information and direction in determining the extent to which agricultural products could be enhanced by the operation of a Missouri Port. Additionally, the study will yield a Business Development Plan that will assist in the marketing of Missouri River Ports in general and specifically a full-service Port in Central Missouri.
This project consists of two major objectives.
Phase 1: Comprehensive market study.
The overall objective of this phase is to identify all companies in an 11-county area that could potentially utilize the port for outbound and/or inbound shipments of commodities, products, and raw materials.
Phase 2: Preliminary assessment of the financial feasibility of the Project.
The objective of this phase is to develop a detailed business model for the port that includes a preliminary, but comprehensive, analysis of the potential financial viability of the project.
A key component of this study will be to identify commodity markets and understand how commodities, manufactured goods, and raw materials flow from producers to markets. This will be done by analyzing the patterns, methods, and flow of commodities within the 11-county study area (i.e. the primary catchment area). The study will also identify those obstacles, bottlenecks, and challenges in the commodity transportation system in the study area and provide data for better understanding future needs.
The study will target businesses that would benefit from the shared access to facilities a port would provide. Sharing could include services provided by shipping agents, brokers, shippers, and packing companies, as well as those related to support activities. Asset sharing would allow companies within the port district to obtain economies of scale and these economies would position the port to compete for customers, tenants, and trade.
Top commodities could include gravel, non-metal mineral products, cereal grains, coal, other foodstuffs, other ag products, fertilizers, basic chemicals, and animal feed.
The study will be completed in March 2020.