The Philadelphia Regional Port Authority has rebranded the Northeast U.S. port to PhilaPort in wake of increased investments and port expansions.
The Philadelphia Regional Port Authority (PRPA) is rebranding itself as PhilaPort in wake of investment growth as well as to bolster national and international marketing efforts, the port authority said Monday.
“The name is short, clean and memorable, and it reflects very simply who we are and what we do,” said Jerry Sweeney, PhilaPort chairman. “The name ‘PhilaPort’ helps distinguish us from the many other regional authorities and commissions as we seek to capitalize on the opportunities that will result from our expansion.”
Public and private investments of up to $1 billion have positioned the port for considerable growth to accommodate larger ships and improve inefficiencies, said the port. Last November, Pennsylvania Gov. Tom Wolf announced plans to invest $300 million in expansion efforts for the port, which will continue through 2020.
“With its major economic impacts throughout the state, my administration understands the value of Pennsylvania’s port asset in Philadelphia,” Wolf said. “The Commonwealth’s investment in the Port will help with the initiative to double container capacity, position the Port for future growth, and improve efficiency while boosting three of PhilaPort’s busiest sectors: containers, automobiles and breakbulk.”
In addition, the $392 million Delaware River Main Channel Deepening project is scheduled for completion by December 2017, increasing the depth of the channel to 45 feet. The channel deepening and the port expansion will enable the port to handle post-Panamax size vessels (around 13,000 TEUs), leading to doubled container capacity handling, import and export efficiency and the creation of 7,000 new jobs.
As a result, state and local tax revenues are expected to increase from $69.6 million to $108.4 million annually as well, according to PhilaPort.
“PhilaPort’s aspiration is to be the better option for cargo shippers BCOs (beneficial cargo owners),” said PhilaPort Executive Direct and CEO Jeff Theobald. “This will be accomplished by efficiency of operations, costs and being the best location.”
“In essence, this expansion is a tremendous opportunity for this region and for commercial enterprises that import and export materials and goods,” added Sweeney. “It will enhance the quality of life for everyone, from those who will have jobs here to those who enjoy the products that come through the international gateway known as PhilaPort.”
Port of Philadelphia rebrands as PhilaPort
