The Diamond State Port Corporation Board approved its operation budget for fiscal year 2027, as the group repeats that the start of phase one construction on its Ports of Wilmington Edgemoor expansion is imminent.
It said in a statement last week that preliminary work has been underway and continues, though Holt Logistics issued a legal challenge to its permits this month.
The statement characterized the legal challenge as an “effort to obstruct this project” by an out-of-state competitor. And the DSPC will, “respond through the appropriate judicial channels.”
An official groundbreaking for the long-awaited port of Wilmington expansion stillisn’tset though, after the Diamond State Port Corporation Board’s Monday meeting.
Business Agent for the International Longshoreman’s Association Local 1883 Kimoko Harris pressed on the topic right at the end of the meeting. To him, an official groundbreaking helps launch a business plan for the DSPC, “because I think that's going to be crucial to putting the new port on the world map, so to speak.”
The board did approve its fiscal year 2027 budget. The board’s projected operating revenue is just over $6 million for FY 2027. And operating expenses are set at just under $3.5 million.
The increase in expenses comes as construction on phase 1 of the Edgemoor port expansion is set to start this year.
Brian Devine, the Diamond State Port Corporation’s interim executive director, said because its operating expenses are below its income, the DSPC doesn’t need operational funds from the state. But it has received state grant money. Most recently, it received $30 million in bond money from the state to support the project.
“Our operating costs are slightly higher than they have been in the past,” Devine said.
And he attributed that, “mainly around the associated oversight and accounting practices and audits of the high levels of capital spending that we are experiencing. So that is the source of most of that capital spending projection and operating expenses.”
Enstructure, the state’s private port partner, said it’s contributed approximately $46.7 million since it took over operations at the port of Wilmington in 2023. That includes new harbor cranes. Enstructure’s Eryn Dinyovszky said that will help bump up the port‘s cargo handling capacity.
Enstructure and the state are expected to pay $669 million for the port’s first phase of construction– with $225 million from Enstructure and $119 million from the state. Federal ARPA funds have funded site prep at the Edgemoor site and pre-dredging work is already happening.The federal dollars arenearly out, and the next pot of funds to support construction will be $195millionthe stateallocateda coupleyearsago.
Major work in the next year includes dredging and installing a wall between the water and site.
