October 29, 2009 10:48 AM
Staten Island, NY - Rep. Michael E. McMahon is pleased to announce that last week, the Empire State Development Corporation and the Port Authority of New York and New Jersey agreed to provide $3,895,500 of Bi-State Dredging Funds to the Caddell Dry Dock & Repair Company (Caddell). This necessary infusion of funds will allow Caddell to dispose of approximately 106,000 cubic yards of dredged materials. Caddell will also be able to retain over 200 jobs at its shipyard.
“I am pleased that Empire State Development Corp. and the Port Authority have stepped in to fund Cadell’s request for bi-state dredging monies,” said Rep. Michael E. McMahon. “Caddell has been providing necessary services in the port of New York and New Jersey for over 100 years now and is an important part of the economy of Staten Island and the greater New York/New Jersey port. This funding will ensure that Caddell can remain competitive with other dry docks along the east and allow it to provide hundreds of local jobs. This is the type of prudent decisions that governments should be coming to with regard to assisting local businesses.”
Port Authority Executive Director Chris Ward said, "During difficult economic times, port-related businesses are critical to maintaining a strong regional economy and job base. We're pleased to assist this business with the resources it needs to remain competitive and to retain the 200 port-related jobs it supports."
"We are grateful to Congressman McMahon for working so diligently with the agencies and local elected officials to get this funding approved. We are hopeful that this will solve the dredging issue for us for good and we will be able to continue providing good competitive service to our customers and steady jobs for our employees for many years to come," said Steven Kalil, President of Caddell.
“I was extremely pleased to hear this good news. Caddell Dry Dock and Repair has been a fixture on Staten Island’s waterfront for over a century, and it is a great provider of jobs for Borough residents. It is crucial, especially in these tough economic times, to keep Staten Island businesses competitive, and this funding will allow Cadell to remain an integral part of our Borough’s economy,” said Borough President James P. Molinaro.
Councilman James Oddo said, "Caddell is one of the shining stars on our waterfront and is an important player in creating jobs for Staten Islanders. It is important that we do all we can to keep our waterfront jobs on Staten Island and create more of them. The reality is that we are an island and the waterfront should be used as an economic engine. This funding is a step in the right direction and will go along way to ensure the Caddell continues to provide essential services along our waterfront.”
Caddell was opened in 1903 by John Bartlett Caddell and was originally located in Erie Basin in Brooklyn. The company relocated to its current home in 1916 and is still privately held and operated by the Caddell family.
