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The Portfields Initiative is a joint project of The Port Authority of New York and New Jersey and the
New Jersey Economic Development Authority (EDA). The program provides opportunities for private developers, communities and others to transform underutilized and brownfield sites into productive warehousing and distribution centers. These centers will support and capitalize upon emerging market opportunities for new ocean and air freight-related warehousing and distribution operations.
The Plan
The Portfields Initiative will identify and help advance to "shovel ready" status at least six brownfield sites
(and/or other underutilized sites). Each site will be able to accommodate at least 350,000 square feet of competitive, ocean or airfreight
cargo distribution building space. These sites should help accommodate the growing logistics market demand for high value, high velocity
(cross dock) or value added distribution centers. These types of facilities are well known for attracting substantial private investment,
creating jobs, tax revenues and related economic benefits for communities.
The Portfields projects will have private sector developers and, in some cases, will have private/public sector partnerships of developers and public agencies, which are sponsoring projects. The Port Authority and New Jersey EDA are committed to providing financial, technical and other support to developers who want to build projects on identified Portfields sites. The first phase of the Portfield Initiative - identification, validation and
differentiation of potential Portfield sites - has been completed. Subsequent phases will focus on pre-development due-diligence and successful implementation strategies for selected Portfield sites.
Development Sites and Criteria
Several sites have been identified and are currently under consideration for development. These sites meet most and in some cases all of the criteria established for consideration. Development Sites
Several sites have been identified and are currently under consideration for development. This list will change as sites are added, developed or removed.
Development Criteria
These sites meet most and in some cases all of the following desirable criteria:
- Located within the Port District.
- Easy access to major highways.
- Site development issues that are resolvable and not cost-prohibitive.
- Adjacent to essential utilities and zoned appropriately for industrial use or designated for redevelopment.
- A minimum of 25 acres.
- Close to key port, airfreight and/or other transportation hubs and infrastructure.
- Developable for ocean or airfreight related warehousing/distribution - especially those activities, which will bring significant jobs, investment, and economic activity to the Port District.
- Limited ownership interests, i.e. minimal property assemblage issues.
- Local government support.
To download our most recent market overview and report on potential site locations, click here. Development Support
A developer, owner or end user who controls or who has an established interest in a Portfield site may be able to receive benefits and various means of public assistance to support site development. These types of benefits and assistance can help a Portfield project developer or sponsor identify, measure and remove impediments and/or meet requirements associated with the successful completion of their project. The include:
- Financial assistance with feasibility analysis of prospective sites for development, e.g. recoverable investments for up to $250,000 with a 1:1 match from developer.
- Financial assistance for due diligence, infrastructure and/or facilities development through preferential EDA debt or equity investments in the Portfield site or facility.
- Assistance in obtaining low-interest bond financing for site development.
- Contracted land assemblage assistance through the EDA.
- Assistance through the EDA and others in securing necessary permits and approvals.
- Economic development funding and other assistance (e.g. employee tax incentives, work force training grants) from various public agencies and organizations.
- Financial assistance for site investigation and remediation and infrastructure improvements.
- Project planning and implementation strategy assistance.
- Marketing assistance.
Patrick Flinn
General Manager
Regional and Economic Development
The Port Authority of NY & NJ
(212) 435-7813
pflinn@panynj.gov
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