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5/26/2023
The Pennsylvania Department of Transportation (PennDOT) announced it will extend funding for the Intermodal Cargo Growth Incentive Program until July 2024.
Slated to end in June, the program's $1 million fund aims to increase containerized cargo activity by incentivizing shippers to move cargo through the state's ports, PennDOT officials said in a press release.
The program was established in 2015 through PennDOT's Multimodal Fund and is used as a tool to compete with other ports in attracting new ocean carriers and trade lanes to Pennsylvania. Since 2015, program participants have sent nearly 3 million units of cargo through Pennsylvania ports, resulting in $6 million in incentive funds awarded to nine ocean carriers.
New carriers enrolled in the program receive $25 per new container unit loaded or discharged from vessels to a Pennsylvania port. Existing participants qualify for the incentive payment by exceeding established benchmarks.
Application information is available here.