Port Authority board approves $27 billion 10-year capital plan
NEW YORK - The Port Authority Board of Commissioners today approved a historic $27.6 billion, 10-year Capital Plan that provides a blueprint to renew the agency’s focus on its core mission of maintaining and building regional transportation infrastructure and on the creation of jobs and regional economic activity.
The Board’s approval followed a two-week public comment period in which the document was available online for public review. All comments received were distributed to the Commissioners for review prior to approval.
“Adoption of this $27.6 billion Capital Plan will improve commute times, modernize our airports, lessen congestion and create lots of jobs,” said Port Authority Executive Director Pat Foye. “This plan will create 126,000 job years and $29 billion in economic activity and means tens of thousands of people will be employed across the region."
“The Port Authority's operations, engineering and finance staffs have worked painstakingly for more than a year to craft a capital plan to address critical infrastructure issues in a timely and cost-effective manner,” said Port Authority Deputy Executive Director Deborah Gramiccioni. “They identified innovative solutions to complicated problems, and I thank them for that. The primary beneficiaries of their work will be the people of our region who will enjoy a transportation network that is safe, secure and reliable."
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