U.S. Senator Chris Coons announced on Wednesday that President Obama’s budget proposal will include a total of $20 million in funding for fiscal year 2014 to deepen the Delaware River shipping channel.
The project is seen as essential to the survival of the Port of Wilmington. The port was in the news earlier when a possible operator pulled out of talks with the state , blaming a union leader.
“Delaware’s maritime trade supports our state’s economy by expanding commerce and creating high-quality jobs,” Coons said. “I applaud President Obama for recognizing the important role the Port of Wilmington and the Delaware River have on our region and our economy. While progress has been made in deepening of the Delaware River, there’s a lot of work that still remains to be done to complete the project. I pledge to continue to fight for adequate federal funding for this project, and to stand up for the Port of Wilmington and maritime trade in our state.”
Deepening the Delaware River channel from 40 to 45 feet in order to accommodate larger vessels will reduce shipping costs and make maritime transportation more efficient, bring more trade to our region, attract private investment, and ensure that our region will remain competitive in the global marketplace. Deepening the river is expected to create an estimated 75,000 direct and indirect jobs throughout the Delaware Valley. This includes permanent, high-paying jobs as well as short-term construction jobs that will aid an industry hit hard by the economic downturn, according to a release from Coons’ office.
“This project is critical to commerce, and is the stimulus that will create upwards of $1 billion of investment in port infrastructure projects here on the Delaware River,” Dennis Rochford, president of the Maritime Exchange for the Delaware River and Bay, said. “Further, this project preserves the approximately 135,000 existing direct and indirect port related jobs, and has the future potential to create up to 75,000 good-paying, blue-collar, family-sustaining jobs. Today’s announcement is the result of sustained cooperation and leadership among local, state and federal elected officials in Pennsylvania and Delaware. Senator Coons has been a tireless advocate for the deepening of the Delaware, and he is to be applauded for his unwavering support of our regional maritime community on any host of issues affecting Delaware River ports. We are thankful to Senator Coons for working with us to move this project forward, thereby ensuring that the Delaware River region remains competitive with other East Coast ports, and has the opportunity to capitalize on the expanded trade that will occur as a result of the soon to be completed Panama Canal expansion.”
“On behalf of the Diamond State Port Corporation, its board and the thousands of men and women who work at this port and of those whose jobs are dependent to the continued success of the Port of Wilmington, I would like to thank President Obama for his continued commitment to and financial support of the Delaware River main channel deepening project,” Eugene Bailey, executive director of the Port of Wilmington, said. “A 45-foot channel affords the Port of Wilmington transformative growth opportunities for the future, and it will serve as a catalyst for increased trade and substantial job growth on Delaware’s marine highway.”
