Transportation is always of critical importance to the Keystone State. Most commercial truck traffic between the Northeast and Midwest travels through Pennsylvania, placing an overabundance of stress on our roads and bridges. With more state roadway miles than the rest of the New England states combined, Pennsylvania’s Department of Transportation (PennDOT) faces a heavy burden maintaining the system adequately on an increasingly limited budget. Traditional methods of transportation funding are not keeping pace with Pennsylvania’s needs, and the state continues to discuss new and alternative revenue mechanisms to fund our roadway system, such as permitting public/private partnership arrangements as a method of financing new construction projects. Pennsylvania also possesses a system of ports and airports that have enormous economic development potential.
State Street Advisors is well-versed on the ins and outs of these and other transportation issues. Lois Hagarty, as a member of the Pennsylvania Legislature, led the successful effort to establish a dedicated funding source for public transportation in the Commonwealth. In private practice, she represented for a decade a major mass transit system. Jeff Sharp served as Vice President of Government Relations for the state’s road construction industry trade association – Associated Pennsylvania Constructors (APC) – where he gained insight into highway construction issues and directed successful campaigns, securing legislative approval for additional much-needed transportation funding.
State Street Advisors has been involved in economic development projects in aviation – in one case, resulting in the relocation of an international aircraft manufacturer to Pennsylvania; and, in another, assisting a global shipping organization in a project to develop the Philadelphia port. We have also worked successfully with PennDOT on various product specifications and approvals. Our ever-expanding involvement in transportation industry issues also extends to clients in the automobile manufacturing and cellular communications sectors.
State Street Advisors provides the following services:
- Legislative and Regulatory Due Diligence – We provide clients timely information and consultation concerning emerging transportation issues, along with real time tracking of legislation and key regulatory developments.
- Lobbying – State Street Advisors maintains strong relationships with the elected transportation policy leaders and key members of staff. We work very closely with them on transportation issues impacting our clients and are in tune with current and emerging issues.
- Regulatory/Agency Matters – Our client base impacts a broad spectrum of the transportation clients and, as such, we have worked with PennDOT officials on issues of specifications, product approvals, permitting, regulatory and legislative issues.
State Street Advisors’ experience includes the following projects:
- Successfully sought changes to Pennsylvania tax law that allowed for relocation of a major international aviation manufacturer to relocate to Chester County
- Advised clients on successful specification and product approvals with PennDOT
- Achieved legislative changes to allow for advances in automobile technology