JACKSONVILLE, Fla. -- A major shipping company will not build a $300 million shipping container terminal at Jaxport.
Our news partners at the Jacksonville Business Journal say Jaxport has agreed to release Hanjin from its contract.
Weakness in the economy is being blamed.
Had the deal gone through, it would have brought more than 5,600 jobs to the area and nearly $1 billion in economic impact.
However, as part of the agreement, Hanjin will bring a new Asian container ship to Jaxport every week.