NEW YORK BUILDING CONGRESS ENDORSES PORT AUTHORITY’S $27.6 BILLION, TEN-YEAR CAPITAL PLAN
Published on Feb 19, 2014 by
New York Building Congress
Rubenstein Communications
Contact: Bud Perrone (212) 843-8068
NEW YORK, February 19, 2014 – New York Building Congress President Richard T. Anderson offered the organization’s unqualified support for the Port Authority of NY & NJ’s $27.6 billion, ten-year capital plan during testimony today at the bi-state agency’s Board of Commissioners meeting in Manhattan.
“The Port Authority’s ten-year capital plan is a fundamental re-affirmation of the agency’s core mission to build and maintain the transportation infrastructure that sustains the world’s largest metropolitan economy,” said Mr. Anderson. “With $12.6 billion devoted to state-of-good repair, the Port Authority has shown its dedication to maintaining its existing assets. Even more impressive, however, is the agency’s willingness to devote more than half of its $27.6 billion capital plan to major new projects, including redeveloping its three regional airports to accommodate 21st Century travel and rebuilding the Bayonne and Goethals Bridges.”
Mr. Anderson added, “The capital plan, which covers 2014 through 2023, marks a key period of transition for the 93-year-old agency. With its work at the World Trade Center nearing completion, the Port Authority is using this capital plan to re-focus on its historic role as a builder of regional transportation infrastructure. The Building Congress is especially gratified to see the Port Authority’s commitment to improving the region’s three major airports, rebuilding its bridges and creating a more efficient and expansive PATH system.”
According to the Port Authority, the ten-year capital spending plan will result in 126,000 total job years and $29 billion in economic activity.
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The New York Building Congress is a membership coalition of business, labor, association, and government organizations promoting the design, construction, and real estate industry in New York City.