Date: Mar 02, 2014
Press Release Number: 50-2014
“We're pleased that the Panama Canal Authority is back on track to complete its widening project by early 2016, allowing larger, more environmentally friendly ships to call on our port terminals. When the new locks open, we will be ready with improved navigational clearance under the Bayonne Bridge by the end of 2015 and 50-foot channels to accommodate the next generation of ships and the hundreds of thousands of jobs and billions in economic activity their cargo will support for the region.”
Port Authority of New York and New Jersey
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 the Western Hemisphere. 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 raises the necessary funds for the improvement, construction or acquisition of its facilities primarily on its own credit. For more information, please visit http://www.panynj.gov.