PortMiami is one of the largest economic engines in Miami-Dade County, handling $14.3 billion in imports and exports as the #1 container port in Florida and 11th largest in the US. A memorandum of understanding with the Panama Canal will promote new business growth via the expanded canal. Planned infrastructure projects including deep dredging to -50 feet, a new tunnel for truck access, and new rail infrastructure and super post-Panamax cranes will allow PortMiami to serve as a major hub and handle larger cargo ships serving Latin America and the Caribbean.