Business Facilities - November 2007 - (Page 29)

Over the past year, officials from the Philadelphia Regional Port Authority (PRPA) reached out to steamship lines, terminal operating companies, and other industries to discuss possible investment in the port. In many cases, serious interest was expressed contingent on the deepening project moving forward. “The ships are getting bigger and the steamship lines want to go to the ports with the better futures,” says Dominic O’Brien, senior marketing representative for the PRPA. And with the deeper channel, Philadelphia’s future looks bright. O’Brien estimates that over the next 15 to 20 years, global trade will double, partially due to the effect the widening of the Panama Canal will have on the shipping industry. Gov. Rendell has also announced plans to bond $300 million for port infrastructure upgrades such as the rehabilitation of piers, the development of new waterfront warehouses, and the construction of new cranes. The governor further bolstered his standing in the shipping industry through his support of redevelopment at the Philadelphia Navy Yard tract, much of which is occupied by abandoned military buildings and open space. In September, the World Trade Association of Philadelphia, a nonprofit organization comprised of shippers, manufacturers, steamship lines, trucking companies, terminal operators, and others, named Gov. Rendell its “Man of the Year” in recognition of all these initiatives. Proponents of the deepening had their cause bolstered by a 2002 U.S. Army Corps of Engineers report touting its economic feasibility. The report estimated that the deepening would produce some $24.2 million in annual Philadelphia waterfront benefits versus only $21 million in annual costs, meaning it would yield a net benefit of $1.18 for every $1 spent on the project. After the accuracy of those figures was challenged, an independent study was conducted in 2004 with similar findings (it found that the benefit-cost ratio would probably be about $1.15 to $1). Support for the dredging has not been universal. The most formidable opposition came from New Jersey, If You’re Searching for America’s Most Promising Workforce “ we’re hiring smart competent qualiﬁed people – individuals who have tons and tons of promise. Any company in the country would be happy to have the opportunity that we have.” – Kristopher B. Jones President & CEO PepperjamSEARCH.com Come to Northeast Pennsylvania! When you think Northeast think PHOTO: B. KRIST FOR GREATER PHILADELPHIA TOURISM MARKETING CORPORATION Give us a call to learn more about our nationally ranked workforce and how it can help your company increase productivity and lower operating costs. 1151 Oak Street Pittston, PA 18640-3795 800-317-1313 • FAX (570) 654-5137 email: cannella@pennsnortheast.com www.pennsnortheast.com Berwick • Hazleton • Honesdale • Milford • Pittston • Scranton • Stroudsburg • Wilkes-Barre 0 #0902 at www.BusinessFacilities.com BUSINESS FACILITIES 29 http://PepperjamSEARCH.com http://PepperjamSEARCH.com http://www.pennsnortheast.com http://www.pennsnortheast.com http://www.BusinessFacilities.com

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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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