By
Rebecca Gibson |
Three Galveston County community banks have partnered to finance the US$13 million expansion of the Port of Galveston’s Cruise Terminal No. 2.
Texas First Bank, HomeTown Bank and Moody National Bank will each contribute to the fund that will be used to upgrade Galveston’s Cruise Terminal No. 2. When completed in spring 2015, the expanded terminal will offer 150,000 sq ft of space and seating for 1,600 passengers. It will also be able to accommodate larger vessels, such as the Royal Caribbean International’s Voyager-class ships.
“We are fortunate to have community-minded bankers who understand the benefits the entire area derives from improving our capabilities,” said the port’s director Michael Mierzwa. “The terminal expansion means we will be better able to serve a growing number of passengers who will sleep in our hotels, dine in our restaurants and shop in our stores, spreading the economic impact throughout the Galveston Bay region.”
Mierzwa said the teamwork exhibited by the three local banks sends a strong message to the cruise industry and other companies looking to grow in Galveston County.
“When they see local financial institutions willing to work together like this, they realise they have come to the right place at the right time,” said Mierzwa. “It bodes well for the future of our entire area and we’re deeply grateful for the leadership of the three banks for making this project possible.”
Mierzwa added: “We also appreciate the cooperation of the city of Galveston, the city council, and our own port staff for their monumental efforts in helping us makes this great expansion possible. Everyone had a role to play, everyone pitched in with a spirit of cooperation, and everyone demonstrated what a community can do through teamwork.”
Galveston serves as a primary embarkation point for itineraries to the western Caribbean and the Bahamas. A recent study commissioned by the Cruise Lines International Association indicated that Galveston was the fourth busiest cruise embarkation port in the US in 2013. Ranking behind Florida and California, the Texas cruise port embarked around 605,000 passengers last year and welcomed a total of 901,000 guests and crew, a 4.4% rise from 2012. Carnival Cruise Lines and Royal Caribbean International both homeport ships at the port.