PhilaPort Receives $246 Million in State Funding to Bolster Port Development

Feb. 7, 2022 - Pennsylvania Governor Tom Wolf on Feb. 4 announced a $246 million state investment into the Port of Philadelphia to continue modernization efforts and improve regional economic stability. This funding builds upon the Governor’s comprehensive $300 million Capital Investment Program at the Port of Philadelphia announced in 2016.

In 2016, Governor Wolf announced his Port Development Plan to redevelop underutilized areas of the Port of Philadelphia by investing more than $300 million in the port’s infrastructure, warehousing, and equipment. Critical infrastructure investments included the purchase and implementation of three new super post-Panamax cranes at the Packer Avenue Marine terminal, the building of two new state-of-the-art warehouses, and the development of the SouthPort Auto Terminal, the first new port terminal in more than 45 years. Since implementing the infrastructure improvement plan the port has realized record breaking cargo volumes, nearly 60 percent container growth, and created thousands of new jobs.

“Governor Wolf’s leadership and vision breathed new life into the Port of Philadelphia,” said Executive Director and CEO of PhilaPort Jeff Theobald. “He has given us the tools to take our meaningful place as the gateway of choice for global cargoes.”

U.S. Senator Bob Casey said, “The Port of Philadelphia is one of the most critical links in the country’s supply chain,” said U.S. Senator Bob Casey. “Its success is vital to the economic health of Pennsylvania and its impacts ripple throughout the commonwealth. This investment will create jobs not only at the port, but also for workers who transport goods across the region and the country.”

Senator Nikil Saval added, “PhilaPort is the fastest growing port in the United States, serving as a crucial point of connection between our country and the rest of the world, and providing our region with good, family-sustaining jobs. This investment in PhilaPort will help solidify Pennsylvania’s preeminence along the Eastern Seaboard in ensuring the smooth transit of essential supplies.”

SOURCE: Port of Philadelphia