In 1992 Congress authorized the U.S. Army Corps of Engineers (Corps) to implement the Delaware River deepening project, which would deepen the river's shipping channel from 40 to 45 feet. In 2002 a review of the Corps' economic analysis of the project, concluding that it contained significant limitations. It was recommended that the Corps prepare a comprehensive economic reanalysis, which the Corps completed in 2004. This report determined the extent to which: (1) the reanalysis addressed the limitations identified; (2) the reanalysis's benefit projections, as updated, reflect current and anticipated market and industry conditions; and (3) the Corps has accounted for other key issues that could affect the project. Charts and tables.