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New Soo Lock Economic Validation Study

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.

Main Economic Reevaluation Work Efforts

Updated commodity and transportation forecast

Calculated costs of alternate transportation modes

Updated consequences/benefits

Updated component reliability and failure probabilities

Updated and certifying with and without project costs

PACR

In addition, a Post Authorization Change Report (PACR) was required. The current construction cost has been updated and will exceeds the most recent authorization cost noted in the 2007 reauthorization. This report has been completed and was submitted with the updated economic evaluation.