Interview: Andrew Saporito

Andrew Saporito

Executive Director & CEO South Jersey Port Corporation

How would you describe the significance of the new investment in the Paulsboro Marine Terminal?

With the signing of the agreement for the EEW manufacturing facility to support Ørsted’s and EDF/ Shell’s offshore wind projects, we have taken the first significant step toward preparing the port for the future. The New Jersey EDA is in the process of building another offshore wind port, which will bring another 200 acres online and complement our work in Paulsboro. New Jersey is ideally located for offshore wind projects and, crucially, we have a governor who supports the activity. It will bring a lot of jobs to the region.

To build on this momentum, EDA and the South Jersey Port will be doing a joint study of the Port of Salem, which is a smaller port just downriver from Paulsboro. We believe Salem can become an important supply port for the local offshore wind support services industry.

How important is sustainability for SJPC?

Two of our terminals are located in the city of Camden, nearby numerous residential areas. We need to be good neighbors and citizens, and so we have to look at making our operations more sustainable. That is why we are using a $6.6 million grant to make 23 pieces of our equipment electric. Eventually, we would like to make our Broadway terminal our first entirely sustainable terminal. We want to prove that you can take existing facilities and upgrade them in an environmentallyfriendly way.

What capital improvements is the company planning?

The Delaware River has been deepened to 45 feet. This will help our terminals handle larger ships. We would also like to see an increase in water depth in Camden at some point, depending on demand. There will be ongoing investment in our terminals up and down the river throughout the next five to 10 years because we need to ensure that we continue to provide the best service for our customers. Authority of New York and New Jersey registered losses from bridge and tunnel traffic and airline passengers, cargo remained strong and the New Jersey Turnpike Authority estimates a 14% year-over-year increase in traffic volumes in 2021.

New Jersey’s location sets it apart as an investment location of choice for transportation and infrastructure. In February, the state announced a $250 million overhaul of the Walter Rand Transportation Center in Camden to create a transportation hub. And the U.S. Department of Commerce announced a $3 million investment in the Atlantic County Improvement Authority to help grow the region’s critical aviation cluster. The Port Authority of New York and New Jersey is also seeking to expand its facilities at Newark Liberty International Airport.

The industrial real estate market in South Jersey also contributes to its reputation as a logistics hub. Construction starts in the third quarter of 2020 showed 4.2 million square feet entering development, meaning there is a total of 7.1 million square feet of new construction on the way in South Jersey. At the end of 2020, logistics giant Amazon announced a new fulfillment center in Salem County that will provide 800 jobs by the end of 2021.

Looking ahead The outlook is bright for New Jersey’s – and, in particular, South Jersey’s – infrastructure, transportation and logistics segment. The state is powering ahead to create infrastructure for the future and it will benefit greatly if the federal government approves a proposed $1 trillion infrastructure package. The state is ahead of the pack in developing certain sustainable infrastructure but recovery from the pandemic requires an acceleration of these investments. This gap can be partially filled by new PPP agreements to bolster South Jersey’s infrastructure. With strong job and population growth behind it, an explosion in industrial real estate, continued connectivity to some of the nation’s largest ports and airports and a dense rail and road network, the region is likely to see an influx of private infrastructure investment in the coming years.

But certain considerations are still holding the state back. Despite huge investments and commitments to decarbonization and clean energies, sea levels are rising and adverse weather events are becoming more and more common. According to Scientific American, climate change effects added $8 billion to the costs of Hurricane Sandy. This means that without sustainable infrastructure, flood prevention measures and resilience, the region’s Herculean efforts in renewable energies and pandemic recovery could be all but wiped out by the effects of adverse weather events.

Banking & Finance:

Between consolidation, a maturing fintech market, the quest for new customer bases and tailored products and services for a crossgenerational clientele, the banking and finance sector in South Jersey is slowly but surely writing its next chapter.