The mayor’s office held a press conference this morning in City Hall to announce Philadelphia’s bike share corporate sponsor and a name for the program.

Independence Blue Cross, Mayor Michael Nutter announced, will contribute $1.7 million per year into the program, which will open later this year with a fleet of 600 bicycles. It will be named IndeGo.

“[Bike Share] will provide a low-cost, convenient, accessible and healthy transportation option for Philadelphians, commuters and visitors alike,” said Nutter. He noted that bike share programs are “undeniably” part of the future of transportation.

Independence Blue Cross CEO Daniel J. Hilferty, who joined the mayor, noted the company wants to be “more than a health insurer” and “invested in the communities we serve.” 

As far as pricing goes, Nutter announced there’d be several memberships available to riders. A 30-day membership can be bought and renewed automatically, and a pay-as-you-go membership. A cash payment option will be available, as well. There will be at least 60 stations in the city this spring, with additional funding from the city ($3 million) and $4.5 million in federal, state and foundation funds.

Bike Share has been a project more than seven years in the making. Several partners, like Bike Share Philadelphia, the Bicycle Coalition of Greater Philadelphia and the City of Philadelphia, have spent years working on the eventual goal. We’re pretty psyched to have seen it come this far and can’t really wait for the official launch this spring.

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