Dennis Rochford, president of the Maritime Exchange for the Delaware River and Bay, announced that President Obama’s FY17 proposed budget includes $33 million for the Delaware River Deepening Project. In addition to the Administration’s funding, an additional $22 million was included for the project in the FY16 Army Corps of Engineers' current fiscal year work plan.
This combined funding of $55 million, and a 35 percent match from the Commonwealth of Pennsylvania
, will move this project toward completion by the end of calendar year 2017. Completing the project allows the Delaware River regional port community to take full advantage of expected opportunities due to the expansion of the Panama Canal
“This funding commitment ensures that the necessary Delaware River dredging is completed,” Rochford said. “The deepening of the river to 45 feet supports existing jobs, attracts new businesses to the region, and allows existing companies currently dependent on Delaware River ports to expand.”