Support for the Port of Philadelphia Capital Investment Program
Governor Tom Wolf and Senator Bob Casey are openly showing their support for the $300 million Capital Investment Program at the Port of Philadelphia.
Yesterday, during Gov. Wolf visit to Philadelphia, elected officials and stakeholders talked and exchanged ideas about the comprehensive investment program at the port which was announced in November.
According to Gov. Wolf, by investing more than $300 million in the port’s infrastructure, warehousing, and equipment, thousands of jobs will be created. The initiative will double container capacity, position the port for future growth, improve efficiency, and increase tax revenues when it begins next year and continues through 2020.
“This is one of the largest economic development projects in the state,” Sen. Casey said. “I have worked since I was elected to ensure the deepening of the Delaware River, an investment in job retention and creation for the state.”
“The state’s $300 million investment is a good deal not just for the Port’s workers and for Philadelphians, but for taxpayers across the entire state,” said Philadelphia Mayor Jim Kenney. “This increased capacity will be needed in the years to come, since the deepening of the Delaware River’s main navigation to prepare for bigger ships is scheduled to completed in early 2017. So we are grateful to the Wolf Administration, to state lawmakers, and of course to the hard-working men and women of the Port of Philadelphia.”
About $200 million of the Capital Investment Program will be invested in the Packer Avenue Marine Terminal, the Port of Philadelphia’s largest maritime facility.
The improvements at the Packer Avenue Marine Terminal will occur at about the time that the Delaware Main Channel Deepening Project, which is deepening the port’s main shipping channel from 40 to 45 feet, will be completed.