Port of Philadelphia to receive $837 million for historic expansion

The Pennsylvania state government has announced a $371.5 million investment into the Port of Philadelphia (PhilaPort), part of a larger $837 million expansion program. The funding package includes $266 million in federal support and at least $200 million from the private sector, with Holt Logistics expected to contribute $100 million.

The project marks the largest expansion in the port's history and includes the construction of a 2,000-foot berth at the Southport Marine Terminal, the first new berth at the terminal in 50 years. Additional allocations include $145 million for reclamation work, $31 million for dredging, $109.4 million for land acquisition, and $58.1 million for equipment such as cranes.

Governor Josh Shapiro stated the investment aims to kickstart a new era of growth for the waterfront. The expansion is projected to increase container capacity by 122% and automobile capacity by 18%. The initiative is expected to create more than 6,000 new jobs and generate $45 million in state and local taxes.