PhilaPort is excited to present the PhilaPort Strategic Plan: Destination 2040 ("PSP"), a new and comprehensive roadmap that charts the course for the Port’s future over the next 15 years. This plan is a testament to the shared vision and commitment to continue making PhilaPort a world-class port and reaffirms the Port’s commitment to growth, sustainability, and prosperity for the region.
Both ambitious and achievable, the PSP is the culmination of a phased process conducted over a two-year period with the ultimate goal to develop an actionable, holistic framework to guide the future of the Port’s infrastructure development. The PSP will be utilized to support PhilaPort’s capital planning process submitted annually to the Commonwealth.
Demand at PhilaPort has been steadily growing over the past decade, with a CAGR of 8 percent, and is expected to continue along similar trends. As cargo volumes continue to increase, however, the Port must build the necessary capacity to accommodate the next several decades of growth.
Meanwhile, recent developments in the region, including proposed expansion projects at other major East Coast ports, have intensified competition.
Due to these factors, the need for systematic framework for decision making that balances internal needs against external forces became apparent and PhilaPort engaged Hatch, an internationally known consulting and engineering firm with specific expertise in the port industry, to assist in developing this guide.
“The global trade and logistics arena is ever-changing, demanding that we be visionary in our approach to planning for the future,” said Jeff Theobald, Executive Director and CEO of PhilaPort. “The strategic plan features the key projects and initiatives that we must undertake to ensure that PhilaPort remains a competitive, vibrant, and resilient port in the years to come.”
Theobald continued, “The Port of Philadelphia is an economic engine, and the PSP is our commitment to generating a positive economic impact for the City of Philadelphia and the Commonwealth of Pennsylvania. Implementing the plan allows us to continue supporting the countless businesses that rely on the Port for timely and cost-effective delivery of their cargo while simultaneously maintaining and growing critical living wage jobs in the region.”
Over two billion dollars in projects and initiatives were identified, prioritized, and sequenced over the plan’s15 year planning horizon. These initiatives cover all the Port’s districts and terminals and emphasize the following ideas:
Expanded Infrastructure & Capacity – acquiring new land, developing additional berths, and investing in modern equipment to support the growth of existing operations while attracting new customers and business opportunities.
Diversified Commodity Portfolio – initiatives aimed at fostering growth across various cargo types, including containers, automobiles, breakbulk, and liquid bulk.
Partnership and Collaboration – engaging with local communities and forging partnerships with industry participants to further enhance the Port's potential.
“The development of the PhilaPort Strategic Plan brought together PhilaPort’s leadership, our Board, our tenants, elected officials, and other port stakeholders in a collaborative process to brainstorm, evaluate, and select the projects and initiatives that make up the PSP, our 15-year roadmap for the future,” said Edward G. Henderson Senior Director, Business Development & Planning.
PhilaPort would like to express gratitude to Governor Josh Shapiro and the Commonwealth of Pennsylvania for their generous support, which made this plan possible. Their support underscores the significance of the Port of Philadelphia to Pennsylvania’s economy. Additionally, we would like to acknowledge the PhilaPort Board of Directors, the Project Team, our tenants, and port operators, and all the stakeholders who were instrumental in bringing this plan to fruition.
By 2040, the PhilaPort Strategic Plan is set to deliver significant benefits, including the addition of a substantial square footage of warehouse space and the capacity to handle an extra 2 million TEUs. The plan will also create nearly 9,000 new direct jobs along with more than 10,000 additional induced and indirect jobs. Furthermore, it is projected to generate over $2.84 billion in new business revenue and nearly $170 million in new state and local taxes.
PhilaPort is poised to take several critical initial steps to implement the PSP, with a focus on establishing a solid foundation through collaboration with key transportation and warehousing partners. The plan is not just a vision; it is an actionable roadmap for the future of the Port’s infrastructure development. Even as the plan is officially launched, early-phase projects—including the construction of SouthPort Berth Phases 1 and 2 and targeted land acquisitions—are already making significant progress or are well underway. These initiatives can be transformative, laying the groundwork for multi-generational growth and development that will benefit the Port and the communities it serves.
“As we embark on this journey towards 2040, I am filled with optimism and anticipation,” said Michael Pearson, Chairman of the PhilaPort Board of Directors. “The importance of this plan to the future of the Port cannot be overstated. It will guide our decisions, shape our actions, and determine our priorities. It will help us navigate the challenges ahead and seize the opportunities that come our way.”
