Business Facilities - November 2007 - (Page 28)

BUSINESS REPORT Pennsylvania By Karl Vilacoba A Watershed Moment for Philly The American city with perhaps the most historic past is now excited about dredging up the future. T his summer, Pennsylvania reached an agreement with New Jersey that will allow the deepening of the Delaware River from the Delaware Bay up to Philadelphia, PA—a project officials believe will spur a new wave of growth and investment in the port area. The dredge project has long been pursued by Pennsylvania, but was held up in recent years largely due to logistical and political disagreements with neighboring New Jersey. With many of those issues now ironed out, Pennsylvania Governor Edward Rendell sees smooth sailing ahead for larger ships using the port. “The Delaware River dredging project is the most significant improvement in the Port of Philadelphia’s 300-year history,” says Gov. PENNSYLVANIA FAST FACTS I I Rendell. “Increasing the depth of the river’s main shipping channel from 40 to 45 feet will help existing companies and attract new ones. This project will enhance our presence internationally, while creating more opportunities for our hardworking men and women of Pennsylvania.” The approximately $300 million project, which will be financed largely by federal funding, calls for the dredging of over 100 miles of the river from the mouth of Delaware Bay to Philadelphia/Camden, NJ. Work will begin once the two states’ environmental agencies review the plans and issue the proper permits. Pennsylvania has agreed to accept responsibility for the disposal of all 26 million cubic yards of spoils material, except for what New Jersey requests for its own projects. Although the Delaware has been periodically dredged to maintain its current depth, the channel has not been deepened since 1942. Five feet may not sound like much, but the increased depth will make a big difference for the larger modern vessels trying to access the port. As it stands, these ships are sometimes forced to stop in the Atlantic Ocean or wait until high tide before heading upstream, says Pennsylvania Department of Community and Economic Development Secretary Dennis Yablonsky. “I think this will really increase the amount of activity in the port. There’s going to be more coming in, versus our competitors like Jacksonville, FL and New York/New Jersey,” adds Yablonsky. THOUSANDS OF WORKERS I I Population (2006): 12,440,621 Largest Cities (2006): Philadelphia, 1,448,394; Pittsburgh, 312,819; Allentown, 107,294; Erie, 102,036; Reading, 81,183 Targeted Industries: Advanced materials and diversified manufacturing, business and financial, life sciences, high technology, alternative energy, agriculture and food production Key Incentives: Machinery and Equipment Loan Fund, Customized Job Training, Keystone Opportunity Zones, Job Creation Tax Credits, The Opportunity Grant Program EMPLOYMENT BY NAICS SUPERSECTOR (2006 Averages) Trade, Transportation, & Utilities: 1,126,300 Professional & Business Services:676,900 1,200 Natural Resources & Mining: 20,500 960 Manufacturing: 671,900 Other Services: 259,900 720 Leisure & Hospitality: 490,300 Construction: 261,800 480 240 SOURCE: BUREAU OF LABOR STATISTICS, JULY 2007 28 NOVEMBER 2007 Government: 746,400 Information: 108,300

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Business Facilities - November 2007 Contents First Words Snapshots Metro Spotlight: Indianapolis Region, Indiana Georgia's Pursuit of Industry Extreme Technology Sites A Tennessee Trifecta A Watershed Moment for Philly Metro Spotlight: Mexico-Texas Border Region High Tech and Aerospace Heat up in Arizona Meeting the Information Technology Challenge IEDC Announces 2007 Winners Corporate Moves: Alabama Northeast Arkansas Scores Major Investments Corporate Moves: Virginia Metro Spotlight: Martinsville-Henry County, VA Renewable Michigan Advertiser Index Ask the Expert

Business Facilities - November 2007

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