Date: Nov 07, 2008
Press Release Number: 130-2008
Port Authority Chairman Anthony Coscia today called on the federal government to help speed approvals and include the ARC rail tunnel between New Jersey and Midtown Manhattan in a new economic stimulus package.
Mr. Coscia, speaking in Jersey City before a St. Peter's College business symposium, said a second rail tube to supplement the existing century-old tunnel would pay dividends now and in the future: creating jobs quickly while providing long-term transportation improvements.
"The Port Authority is doing whatever we can to help the region through these challenging times,' the chairman said. "But in order to maximize our capital spending -- and do the most good for the region's economy -- we also need a strong partner at the federal level."
Much planning and engineering analysis for the rail tunnel already has been done. The environmental review process is nearly finished. The Port Authority, NJ Transit and New Jersey have earmarked $5.75 billion - roughly two-thirds the project's cost.
Federal project approvals and funding should come quickly enough for the project to break ground in 2009, he urged.
Mr. Coscia said the tunnel is the perfect project to help meet New Jersey Gov. Jon Corzine's goal of spurring economic activity in these difficult times by speeding up construction projects.
"Building a new rail tunnel under the Hudson River will reduce commuting times and provide one-seat rides to tens of thousands of regional commuters,' said Mr. Coscia. "It will also reduce traffic congestion on our roads and improve local air quality."
Port Authority of New York and New Jersey
Ron Marsico, 212 435-7777
The Port Authority of New York and New Jersey operates many of the busiest and most important transportation links in the region. They include John F. Kennedy International, Newark Liberty International, LaGuardia, Stewart International and Teterboro airports; AirTrain JFK and AirTrain Newark; the George Washington Bridge and Bus Station; the Lincoln and Holland tunnels; the three bridges between Staten Island and New Jersey; the PATH (Port Authority Trans-Hudson) rapid-transit system; the Port Authority-Downtown Manhattan Heliport; Port Newark; the Elizabeth-Port Authority Marine Terminal; the Howland Hook Marine Terminal on Staten Island; the Brooklyn Piers/Red Hook Container Terminal; and the Port Authority Bus Terminal in midtown Manhattan. The agency also owns the 16-acre World Trade Center site in Lower Manhattan.
The Port Authority is financially self-supporting and receives no tax revenue from either state.