New, state-of-the-art cold storage facility designed to meet the evolving needs of the global supply chain.
Gulfport, Mississippi. (February 1, 2024) – The Mississippi State Port Authority is pleased to announce a long-term lease agreement between the Port and CORE X GULFPORT, a subsidiary of CORE X Partners, to include construction of a 150,000-square-foot cold storage facility. This agreement represents a significant milestone for the growth and economic development of the Port and the Gulfport region. The lease agreement has an initial term of 60 years and two options for 15-year renewals, reflecting both parties’ confidence in the success of this effort to incentivize cargo growth at the Port of Gulfport.
The agreement further solidifies the Port’s position as an economic driver, with CORE X Partner’s capital investment of $73 million. This will be the first investment in cold storage infrastructure since Hurricane Katrina. Located two miles from the port’s main entrance, the facility will provide 21,000 pallet positions with blast freezing capacity for 440 pallets, 45 refrigerated container plugs, multiple temperature zones, USDA inspection services, Customs AG Specialists Inspections, and trans-loading services. Further, CORE X GULFPORT is expected to create 48 jobs in its first year of operation, with projected growth to 73 jobs by the second year.
“This is another great economic win for Mississippi and our Gulf Coast. We’re attracting business after business and creating thousands of jobs across our state.,” said Mississippi Governor Tate Reeves. “The collaboration between the Mississippi Development Authority, CORE X, and Port of Gulfport underscores the state’s commitment to fostering growth, creating quality employment opportunities and further establishing Mississippi as a leader in the global logistics industry. The Mississippi momentum continues.”
The Mississippi State Port Authority and CORE X GULFPORT will be hosting a Lunch and Learn event at the end of February. This event aims to introduce CORE X GULFPORT to local business leaders and potential industry partners, providing an overview of the facility’s capabilities and availability. More information regarding the event will be provided soon.
“We are delighted to have earned the trust of the Port of Gulfport and plan to invest over seventy million dollars to build a world-class port facility,” explains CORE X Partners Co- Founder and Chief Investment Officer Tom Casey. “Gulfport will be our sixteenth facility as our national CORE X platform continues its rapid growth.”
“The Port of Gulfport is thrilled to begin this partnership with CORE X. We believe the addition of a modern cold storage facility offers great synergy for continued implementation of the Port’s strategic plan to fully utilize the port and create more high-paying jobs on the Coast,” said Port CEO & Executive Director Jon Nass. “This not only brings elevated economic growth to the region but also supplements the Port with a tremendous asset that enhances our ability to attract business locally and internationally while building on our strength as a perishable cargo port.”
For media inquiries, please contact: Hannah Milliet, Port of Gulfport Public Affairs Officer, at firstname.lastname@example.org.
For CORE X GULFPORT business inquiries, please contact: Rick Sharp, CORE X Partners President & Regional Partner, Southeast, at email@example.com
About Mississippi State Port Authority:
Established in 1902, the Mississippi State Port Authority at Gulfport is primed for growth after a $1 billion restoration project reached completion in 2022. The Port of Gulfport recently signed an agreement with Ports America, the nation’s largest stevedoring company, which includes an additional $43 million investment into the development of a currently vacant terminal on the Port, including the purchase of a new gantry crane.
The Port of Gulfport is centrally located on the Gulf of Mexico, with easy access to Interstate 10, excellent class 1 rail connections, and the ability to service a majority of the US market within 24 hours. As the second-largest U.S. importer of green fruit, Gulfport offers a strong market for refrigerated cargo, with established weekly vessel calls from Central America and thriving domestic and international business connections.
About CORE X Gulfport:
CORE X GULFPORT, a CORE X Partner, is a leading player in the cold storage industry. With a focus on innovation, customer service, and sustainable solutions, CORE X Gulfport is committed to delivering outstanding facilities that meet the evolving needs of the global supply chain.