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Examining economic impact of rural ports
The director of the Illinois Institute of Rural Affairs says new research shows that rural inland ports, like the Corn Belt Ports initiative, can be drivers of economic development.
Dr. Chris Merrett says developing related business clusters is key to growth.
“You know Silicon Valley, right?” He says, “We do have people who are competitors, but there are key areas around which Silicon Valley technology firms can find common ground. There’s a lot of areas where they can collaborate and coordinate.”
Merrett says growth of a rural port means more tonnage moving through for the betterment of the entire supply chain.
“Regional ports are business clusters.” He says, “Each company in the business cluster could benefit from improved regional competitiveness, but no single entity really has the power to make large improvements on their own. So, the idea here then, is to joint action.”
Merrett says the next step for the inland port system could be innovating through smart logistics, such as artificial intelligence and autonomy.
“A broad array of transportation sectors are trying to embrace these technologies to increase efficiencies and to increase profitability.” He says, “To what extent can waterborne commerce and their stakeholders embrace these technologies to better compete?”
Merrett presented his research at the Corn Belt Ports Upper Mississippi River Ports Annual Meeting in Moline.
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