THE PORT AUTHORITY OF NY & NJ

Press Release Article


PORT AUTHORITY BOARD APPROVES $39 MILLION INVESTMENT IN PORT WHARF/ROADWAY RECONSTRUCTION

Date: Dec 12, 2011
Press Release Number: 156-2011

Investment is in Addition to Approximately $230 Million in Port Spending in 2011

The Port Authority of New York and New Jersey Board of Commissioners has approved a $39 million investment to design and reconstruct a section of Corbin Street – one of the main roadways serving the New Jersey Marine Terminals – along with the wharf and culvert at Berth 3 in Port Newark. The project will maintain the berth in a state of good repair and allow a key port road to accommodate future growth.

The Port of New York and New Jersey is the busiest on the East Coast and the third largest in the United States. In 2010, the port handled 5.2 million TEU’s (20-foot equivalent units), up 16 percent over 2009. The Port supports more than 270,000 jobs and $4.2 billion in economic activity.

It is estimated that the Port Authority will invest approximately $230 million this year in the port, creating 384 direct jobs and generating over $195 million in regional economic activity.

One major area of focus in 2011 was to greatly enhance the port’s existing internal road network. Work began to widen McLester Street in the Elizabeth-Port Authority Marine Terminal, and to widen and realign Port Street and Brewster Road. In addition, the Port Authority continued work on the 50-foot harbor deepening project that is now 80 percent complete, and to continue to develop its ExpressRail intermodal system. These projects are all designed to provide unimpeded ocean and landside access capacity to and from the port for the expected future growth in cargo.

As a part the agency’s commitment to port competiveness, in June, the Port Authority also reached agreement on a restructured lease with Port Newark Container Terminal that will provide $500 million in private capital investment to upgrade the existing facility into a state-of-the-art terminal. The restructured lease will create nearly 800 new jobs – including 350 construction jobs, and will generate 1,450 overall jobs over the term of the lease. It also will guarantee an annual increase in cargo container volumes from Mediterranean Shipping Company, the world’s second largest shipping company.

In addition, the Port Authority continued engineering and design work on a plan to raise the roadbed of the Bayonne Bridge to accommodate new, larger post-Panamax vessels traveling to and from port terminals. The bridge’s navigational clearance currently cannot accommodate the largest of these ships, which are expected to serve the port when the Panama Canal widening is complete. The agency has committed $1 billion toward this project.

Port Authority Chairman David Samson said, “It is critical for the competiveness of our region that we continue to invest in our port infrastructure. With today’s action, we continue to ensure that our ports remain state-of-the-art facilities, and as the largest port on the East Coast, that we can continue to compete globally. These investments and the raising of the Bayonne Bridge we will continue to ensure that the Port of New York and New Jersey remains the largest and busiest on the East Coast. ”

“It is vital that the roadway infrastructure at our ports is not only in good repair, but that we have sufficient future capacity, making sure that goods can efficiently move from our port to consumers around the country and the world,” said Executive Director Pat Foye. “Port competiveness is a priority for Governor Cuomo and Governor Christie, and infrastructure at our ports is a vital component of that competiveness.”

“The economic impact of this project is yet another example of how the Port Authority, under the leadership of Governor Christie and Governor Cuomo, remains committed to being an economic engine for job creation in the region,” said Deputy Executive Director Bill Baroni. “This builds on the action taken earlier this year to secure Mediterranean Shipping Company as the anchor tenant for Port Newark, bringing $500 million in private investment, a commitment to increase volumes, and creating nearly 800 new jobs.”

Port Commerce Director Richard Larrabee said, “We are preparing for the future cargo growth we expect to receive, and the economic activity it will generate.”

The Board’s action will allow for the reconstruction of Corbin Street, which handles an average of 35,000 vehicles a day. It is supported by Berth 3, which was built in the 1920s and is one of the oldest wharf structures in the port. The berth is used as a docking location for the New Jersey State Police Harbor Patrol, and an office is located on the wharf.

Planned construction phasing will allow full use of Corbin Street during the construction period, avoiding traffic impact to the area.

The Board also authorized a supplement to the 100-acre Global Terminal Facility lease at Port Jersey, which provides for the addition of approximately .45 acres of property to the Global leasehold.

CONTACT:

Port Authority of New York and New Jersey

Hunter Pendarvis, 212 435-7777

The Port Authority of New York and New Jersey, which does not receive tax dollars from either state, 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; Port Newark; the Elizabeth-Port Authority Marine Terminal; the Howland Hook Marine Terminal on Staten Island; the Brooklyn Piers/Red Hook Container Terminal; the Port Authority-Port Jersey Marine Terminal and the Port Authority Bus Terminal in midtown Manhattan. The agency also owns the 16-acre World Trade Center site in Lower Manhattan.