TRANSPORTATION & LOGISTICS OVERVIEW
role in the vaccine distribution efforts. Its cuttingedge cold storage technology and its proximity to New Jersey’s pharmaceutical hub gives the airport the edge over its competitors. Philadelphia-based PCI Pharma Services is also a key distribution hub for the vaccines, expected to send out 2-3 million doses. American Airlines has a 25,000-square-foot cargo storage facility at PHL, including 3,000 square feet of refrigerated storage for temperatures between 36 degrees and 43 degrees. There is also space for those shipments that must remain frozen between 14 degrees and minus-4 degrees, which the Moderna vaccine requires. Johnson & Johnson has said its vaccine can be shipped at standard refrigerated temperatures. PhilaPort In February 2021, the Port of Philadelphia (PhilaPort) was named the fastest-growing port on the East Coast, with a 7% increase in container volumes in 2020. This highlights the port’s strengths in handling perishable foods, demand for which surged during the pandemic. The port saw a five-year high in forest product cargoes in 2020. In breakbulk, the port handled almost 1 million tons as well as 20,000 units of containerized forest products. From January to August, the port saw a 5% increase in TEUs, despite volumes in U.S. trade and East Coast trade shrinking by 8%. In December, exports at the port were up 14.94% on the year and it ranked 34th among U.S. airports, seaports and border crossings. In January, both Pittsburgh and Philadelphia ports were named by Global Trade Magazine as ports that are making a difference in the supply chain. At PhilaPort, shippers can move products to 70% of the nation’s population within 72 hours, the magazine pointed out. In 2020, skyrocketing air freight rates supported sea cargoes and many senders of perishable shipments that would generally be airlifted to airports such as Miami started looking for new options. Philadelphia’s cold storage capabilities meant it was ideally positioned to compete for perishable cargoes from Latin America, including Colombian flowers, Peruvian asparagus and Chilean grapes. During 2020, the long-awaited deepening of the Delaware River main channel was completed, allowing larger vessels entry into the port. PhilaPort will now have the same vessel capability as the Port of NY/NJ, giving it a further boost in positioning itself as the No. 1 East Coast port. A $190 million public investment coupled with private funds of $65 million a few years ago have contributed to making the Packer Avenue Marine Terminal one of the most efficient in the country. And Holt Logistics is 104
| Invest: Philadelphia 2021 | TRANSPORTATION & LOGISTICS
Philadelphia International Airport generates $16.8 billion in spending annually and supports more than 106,000 full-time jobs.
spending $32 million this year on improvements to the Gloucester Marine Terminal. Technology According to a study by Penn Institute for Urban Research, Philadelphia’s mass transit ridership has declined in recent years in favor of ridesharing services such as Lyft. This has long-term implications on the viability of public transit going forward, according to the study. Not only this, but the percentage of Lyft rides that start or end in lower income neighborhoods in Philadelphia is greater than almost anywhere else in the United States, according to a report from the company. For many, depending on how ridesharing technology is used, it can be cheaper than owning a car and often more convenient than taking public transport. The Lyft report suggests that ridesharing has actually slowed car ownership trends in the
