The New Soo Lock Economic Validation Study is complete. The report has documented updated economics and established a new Benefit Cost Ratio (BCR) of 2.42 in order to seek an updated authorization for construction of a second Poe sized lock at Sault Ste. Marie, Michigan. Now that the report is complete, the agency’s budgeting process for implementation of the project will be followed and the project will compete with other construction projects throughout the country. This project is currently authorized to be 100 percent federally funded. USACE is requesting funding consideration beginning in the fiscal year 2020 President’s Budget.
Updated commodity and transportation forecast
Calculated costs of alternate transportation modes
Updated component reliability and failure probabilities
Updated and certifying with and without project costs