(FORTUNE Small Business) – While other commuters looked out at the clear waterways running parallel to Route 95 as a diversion from the clotted traffic running between Philadelphia and Washington, D.C., John Anderson looked out and saw an unused transit route. Last spring the 42-year-old owner of CWE, a Mount Holly, N.J., poultry exporter, set up Camden Ferry & Packet and began selling his vision for a hovercraft that will ferry travelers up and down the Northeast corridor. His plan is to entice British-based manufacturer ABS Hovercraft to open a U.S. subsidiary and build six to eight hoverferries at $1.2 million apiece. The 77-passenger luxury craft, which travels as fast as 60 miles an hour, will begin with service between Philadelphia and Baltimore and later extend to Washington, D.C. The Philadelphia to Baltimore trip will run $75 roundtrip and 90 minutes each way, so it will be slightly slower--though $13 cheaper--than Amtrak. And compared with driving? "No traffic lights. No police officers. No traffic jams," he says. At presstime Anderson was planning to take ABS on a tour of the route. He plans to have a pilot hoverferry plying the waves by Memorial Day. --I.M.