What a terrifically wonderful idea!
We could go halfsies with Mexico, on the stipulation all the labor was done by southern border immigrants housed on the Mexican side. That would keep them at work for what, twenty years or more? Not to mention the towns and cities and businesses and industries that would spring up to service channel shipping.
You, my friend, are a genius!
p.s. it would also solve the chronic irrigation water squabbling.
We'd have to put a lock on each end to keep out salt water...