Date: October 2, 2003

STATE OF THE PORT: A POSITIVE OUTLOOK
October 2, 2003

The outlook for regional businesses engaged in international trade is better than ever. This was the message from all the speakers during their presentations at the second annual State of the Port Address and Luncheon.

More than 200 leaders in business, government, transportation and industry gathered at the Chart House for the October event hosted by the WTCGP. Speakers were: Manuel N. Stamatakis, WTCGP's Chairman; John Matheussen, CEO, Delaware River Port Authority and President, PATCO; James T. McDermott, Executive Director, Philadelphia Regional Port Authority; Joseph Balzano, CEO and Executive Director, South Jersey Port Corp.; and Charles J. Isdell, Director of Aviation, Philadelphia International Airport.

In outlining some of the factors leading to the positive economic forecast, Stamatakis noted the contributions of the WTCGP. Although only in operation since October 2002, Stamatakis attributes more than $40 million in export sales directly to the WTCGP's technical assistance, grants and services to local businesses. "Our goal is to help each and every company in the region to recognize their international potential," said Stamatakis.

Bouyed by last year's 13 percent increase in Delaware River port activity, John Matheussen was upbeat about the region's economic future. Noting that freight activity indicates overall economic growth and stability, he also announced an all-time record for the Benjamin Franklin Bridge with 52 million crossings in the last year. The new cruise terminal launched 17 cruises in 2003 and 24 are projected for 2004. "Overall, the state of the port is very good," said Matheussen.

Reporting on the Philadelphia side of the river, James McDermott outlined plans for an 87-acre container facility in South Philadelphia which will generate "family-sustaining" jobs.

With the Port of Camden moving 2.6 million tons of cargo and generating $202.7 million in revenue, Joseph Balzano was equally enthusiastic pronouncing 2003 the port's greatest year ever.

Charles Isdell noted that with a 10 percent increase in cargo traffic and a 7.7 percent growth in international passenger travel, Philadelphia International Airport also had a record-breaking year.

To find out more about WTCGP, please call (215) 218-3750 x 2057 or (856) 968-2057 or visit our website at www.wtcphila.org.

The World Trade Center of Greater Philadelphia is a Pennsylvania 501
(c)(3) non-profit corporation. WTCGP is a licensed member of the World
Trade Centers Association and evolved from the Export Development Unit
of the Delaware River Port Authority. It offers a number of programs
such as one-on-one consulting through an extensive network of
international trade consultants, market research reports, customized
export/import strategies, and educational opportunities through
seminars, international trade missions and networking events.