Date: Jul 19, 2012
Press Release Number: 99-2012
President Obama’s announcement to include the Port Authority’s Bayonne Bridge “Raise the Roadway” project as part of the Administration’s We Can’t Wait initiative, is exciting and encouraging news. We were the first in the nation to submit this project for consideration for expedited review, and this recognition will continue the momentum of this innovative, cost effective and environmentally friendly construction project. Just yesterday, we announced that we will complete the removal of the lower deck six months ahead of schedule, in time to allow the larger post-Panamax ships to travel beneath the bridge and into our ports as soon as the widening of the Panama Canal is completed in late 2015. This accomplishment is due to the strong leadership of New York Governor Andrew Cuomo and New Jersey Governor Chris Christie who have made this important infrastructure project a top priority. We also acknowledge New York and New Jersey Senators Schumer, Lautenberg, Menendez, and Gillibrand, who as advocates for the Port Authority and the region were instrumental in supporting this project. Now, we will work tirelessly to try to expedite the schedule even more by working with our federal, state and city partners to further expedite the review process for this project, which will create 6,300 jobs, spur $1.5 billion in economic activity, and ensure that the Port of New York and New Jersey remains a preeminent shipping location and an economic engine for the entire region.
Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency’s network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where construction crews are building the iconic One World Trade Center, which is now the tallest skyscraper in New York. The Port Authority receives no tax revenue from either the state of New York or New Jersey or from the City of New York. The agency relies on revenues generated by facility users, tolls, fees and rents as well as loans, bond financing, and federal grants to fund its operations. For more information, please visit http://www.panynj.gov.