The Philadelphia Regional Port Authority is planning a large development of the Southport Marine Terminal Complex along the Delaware River.

Pennsylvania Gov. Tom Wolf offered support for the Philadelphia Regional Port Authority's planned development of the Southport Marine Terminal Complex during a visit Wednesday to the 196-acre site.

Governor Wolf said development of the land located on the tip of the Philadelphia Navy Yard is one of his man goals and he wants to see "market-driven development" by 2017 with 3,700 new jobs. The PRPA issued a request for qualifications inviting developers to step up as part of a public-private partnership to help establish new maritime businesses at the South Philadelphia property next to the Delaware River.

"Our port has a strategic location on the East Coast, but its infrastructure is rapidly aging," said Gov. Wolf. "I am committed to ensuring the commonwealth is a strong partner with the Philadelphia Regional Port Authority so that this vital resource remains competitive on a global scale."

Wolf said he will create an advisory committee to provide input on the future of the port that includes stakeholders from industry, labor, local and state government. He has also directed The Pennsylvania Department of Transportation to conduct a study determining the best use and economic feasibility of the port.

"This is a wonderful day for the Port of Philadelphia," said PRPA Chairman Jerry Sweeney. "Southport is the future of the Port of Philadelphia, and to have Governor Wolf personally visit the Port and endorse this critical project that will bring so many jobs and other economic benefits to our region is very exciting and a testament to the hard work by the thousands of men and women who work in this port every day."

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.